DT Midstream, Inc. (NYSE:DTM) Shares Sold by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC decreased its position in DT Midstream, Inc. (NYSE:DTM) by 74.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,358 shares of the company’s stock after selling 12,581 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in DT Midstream were worth $343,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in DTM. Atria Investments Inc bought a new stake in shares of DT Midstream in the 3rd quarter worth approximately $666,000. Bridgewater Associates LP lifted its holdings in shares of DT Midstream by 57.6% in the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after purchasing an additional 67,725 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of DT Midstream by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after purchasing an additional 16,171 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of DT Midstream by 30.1% in 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 last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of DT Midstream by 151.8% in the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock worth $8,918,000 after purchasing an additional 68,350 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Down 1.0 %

DTM opened at $100.64 on Friday. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The stock’s fifty day moving average is $95.53 and its 200-day moving average is $81.07. The company has a market capitalization of $9.78 billion, a PE ratio of 24.49 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 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million during 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 period in the prior year, the firm posted $0.94 EPS. On average, equities analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Monday, December 16th. DT Midstream’s payout ratio is 71.53%.

Analysts Set New Price Targets

DTM has been the topic of several recent analyst reports. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Morgan Stanley lifted 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. The Goldman Sachs Group lifted their target price on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. lifted their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company lifted their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.78.

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.