Barclays PLC Acquires 10,074 Shares of DT Midstream, Inc. (NYSE:DTM)

Barclays PLC lifted its stake in DT Midstream, Inc. (NYSE:DTM) by 3.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 283,363 shares of the company’s stock after purchasing an additional 10,074 shares during the period. Barclays PLC’s holdings in DT Midstream were worth $22,289,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DTM. Dimensional Fund Advisors LP boosted its position in DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after buying an additional 490,613 shares during the period. State Street Corp raised its stake in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of DT Midstream by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after purchasing an additional 38,305 shares during the period. Charles Schwab Investment Management Inc. grew its stake in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Finally, Brookfield Corp ON increased its holdings in DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on DTM. Wells Fargo & Company upped their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Barclays increased their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and an average target price of $84.78.

DT Midstream Price Performance

Shares of DTM opened at $100.62 on Friday. The company has a 50 day moving average of $95.53 and a two-hundred day moving average of $81.17. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 24.48 and a beta of 0.77.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the previous year, the business earned $0.94 EPS. As a group, analysts predict that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business 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. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.92%. DT Midstream’s dividend payout ratio (DPR) is currently 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.