M&T Bank Corp Cuts Position in DT Midstream, Inc. (NYSE:DTM)

M&T Bank Corp lowered its position in shares of DT Midstream, Inc. (NYSE:DTM) by 3.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,678 shares of the company’s stock after selling 182 shares during the quarter. M&T Bank Corp’s holdings in DT Midstream were worth $446,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its position in DT Midstream by 12.6% during the second 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 in the last quarter. State Street Corp raised its stake in shares of DT Midstream by 6.4% in the 3rd 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 during the period. Bank of New York Mellon Corp lifted its holdings in shares of DT Midstream by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after acquiring an additional 38,305 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in DT Midstream by 30.1% during the 3rd 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 during the period. Finally, Brookfield Corp ON boosted its position 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. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

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

DT Midstream Stock Performance

Shares of DTM opened at $98.71 on Wednesday. The firm has a market cap of $9.59 billion, a price-to-earnings ratio of 24.02 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The business’s 50 day moving average is $96.15 and its two-hundred day moving average is $81.74. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85.

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 company had revenue of $248.00 million during the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.94 earnings per share. Analysts forecast that DT Midstream, Inc. will post 3.84 EPS for the current fiscal 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 given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.98%. DT Midstream’s payout ratio is 71.53%.

DT Midstream Company 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.