Charles Schwab Investment Management Inc. Sells 13,492 Shares of DT Midstream, Inc. (NYSE:DTM)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,143,106 shares of the company’s stock after selling 13,492 shares during the period. Charles Schwab Investment Management Inc. owned about 1.18% of DT Midstream worth $113,659,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DTM. Van ECK Associates Corp grew its stake in DT Midstream by 18.6% in the third quarter. Van ECK Associates Corp now owns 33,239 shares of the company’s stock valued at $2,898,000 after purchasing an additional 5,208 shares in the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of DT Midstream by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 9,719 shares of the company’s stock valued at $764,000 after buying an additional 470 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of DT Midstream in the third quarter valued at $372,000. Executive Wealth Management LLC increased its holdings in DT Midstream by 14.7% during the third quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock worth $831,000 after buying an additional 1,356 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in DT Midstream by 49.9% during the third quarter. Lindbrook Capital LLC now owns 13,556 shares of the company’s stock worth $1,066,000 after acquiring an additional 4,510 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $88.16 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 21.45 and a beta of 0.80. The stock’s fifty day moving average price is $101.68 and its two-hundred day moving average price is $93.85. DT Midstream, Inc. has a one year low of $57.16 and a one year high of $114.50.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.72%. DT Midstream’s dividend payout ratio is 91.11%.

Analyst Ratings Changes

A number of brokerages have recently commented on DTM. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays initiated coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target on the stock. Stifel Nicolaus cut their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Wells Fargo & Company reduced their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Finally, The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $102.00.

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.