First Citizens Bank & Trust Co. Grows Holdings in DT Midstream, Inc. (NYSE:DTM)

First Citizens Bank & Trust Co. grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 14.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,026 shares of the company’s stock after buying an additional 494 shares during the period. First Citizens Bank & Trust Co.’s holdings in DT Midstream were worth $400,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. FMR LLC raised its position in DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after purchasing an additional 754,839 shares in the last quarter. Brookfield Corp ON raised its holdings in shares of DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after buying an additional 655,695 shares in the last quarter. International Assets Investment Management LLC bought a new stake in DT Midstream in the 3rd quarter worth approximately $39,166,000. Charles Schwab Investment Management Inc. boosted 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 buying an additional 267,269 shares in the last quarter. Finally, State Street Corp grew its position in 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 during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Down 12.7 %

Shares of DT Midstream stock opened at $97.30 on Tuesday. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $114.50. The firm has a market cap of $9.45 billion, a price-to-earnings ratio of 23.67 and a beta of 0.79. The company has a 50-day moving average of $103.95 and a 200 day moving average of $88.93. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM) last announced its earnings results 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 net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same period in the prior year, the business posted $0.94 EPS. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DTM shares. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and boosted their price target for the stock from $89.00 to $106.00 in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday. Morgan Stanley boosted their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, The Goldman Sachs Group boosted their price objective on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $99.88.

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.