Metis Global Partners LLC Increases Stake in DT Midstream, Inc. (NYSE:DTM)

Metis Global Partners LLC boosted its position in DT Midstream, Inc. (NYSE:DTM) by 33.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,395 shares of the company’s stock after acquiring an additional 1,354 shares during the quarter. Metis Global Partners LLC’s holdings in DT Midstream were worth $424,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of DT Midstream by 76.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after purchasing an additional 330 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in DT Midstream by 3.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 107,455 shares of the company’s stock worth $6,566,000 after buying an additional 3,522 shares during the last quarter. Blair William & Co. IL boosted its position in shares of DT Midstream by 4.0% during the 1st quarter. Blair William & Co. IL now owns 6,258 shares of the company’s stock worth $382,000 after acquiring an additional 243 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of DT Midstream in the 1st quarter valued at about $232,000. Finally, Carlson Capital L P acquired a new stake in shares of DT Midstream during the 1st quarter worth about $782,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 1.2 %

DT Midstream stock opened at $101.96 on Tuesday. The stock has a market capitalization of $9.91 billion, a price-to-earnings ratio of 24.81 and a beta of 0.71. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a 50 day moving average of $85.94 and a two-hundred day moving average of $76.20. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $102.81.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the firm posted $0.94 earnings per share. As a group, research analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Analyst Ratings Changes

Several equities analysts have commented on DTM shares. JPMorgan Chase & Co. increased their price target 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. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and increased their target price for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Citigroup upped their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Wells Fargo & Company lifted their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley upped their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $80.44.

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.