DT Midstream, Inc. (NYSE:DTM) Holdings Trimmed by Verition Fund Management LLC

Verition Fund Management LLC reduced its position in shares of DT Midstream, Inc. (NYSE:DTM) by 13.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 251,526 shares of the company’s stock after selling 39,137 shares during the period. Verition Fund Management LLC’s holdings in DT Midstream were worth $19,785,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DTM. Lazard Asset Management LLC acquired a new stake in shares of DT Midstream during the first quarter worth approximately $73,000. Price T Rowe Associates Inc. MD boosted its stake in shares of DT Midstream by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 46,864 shares of the company’s stock valued at $2,864,000 after buying an additional 2,997 shares during the period. Cetera Investment Advisers grew its holdings in shares of DT Midstream by 1,223.2% during the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock valued at $3,306,000 after acquiring an additional 50,018 shares in the last quarter. Cetera Advisors LLC acquired a new position in shares of DT Midstream in the first quarter worth $216,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of DT Midstream by 282.9% during the first quarter. EverSource Wealth Advisors LLC now owns 965 shares of the company’s stock worth $60,000 after acquiring an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the subject of several research reports. Barclays lifted their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Morgan Stanley boosted their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price objective for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.78.

DT Midstream Trading Up 0.3 %

DTM opened at $106.12 on Friday. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $109.85. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 25.82 and a beta of 0.71. 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 50 day simple moving average of $90.66 and a 200 day simple moving average of $78.35.

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

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

About DT Midstream

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.