MetLife Investment Management LLC Has $3.95 Million Stake in DT Midstream, Inc. (NYSE:DTM)

MetLife Investment Management LLC reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 1.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 50,191 shares of the company’s stock after selling 944 shares during the period. MetLife Investment Management LLC owned about 0.05% of DT Midstream worth $3,948,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of DTM. UMB Bank n.a. lifted its stake in DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after acquiring an additional 240 shares in the last quarter. Family Firm Inc. bought a new position in shares of DT Midstream during the second quarter valued at about $26,000. V Square Quantitative Management LLC purchased a new position in DT Midstream during the third quarter worth about $29,000. First Command Advisory Services Inc. purchased a new position in DT Midstream during the second quarter worth about $31,000. Finally, American National Bank grew its position in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 234 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 3.7 %

Shares of DT Midstream stock opened at $102.17 on Tuesday. The stock has a market capitalization of $9.93 billion, a P/E ratio of 24.81 and a beta of 0.71. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s 50-day simple moving average is $91.23 and its 200 day simple moving average is $78.81.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period last year, the firm earned $0.94 EPS. As a group, research analysts anticipate that DT Midstream, Inc. will post 3.85 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Analysts Set New Price Targets

Several research firms have commented on DTM. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their target price for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Barclays lifted their target price on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.78.

DT Midstream Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.