Nuveen Asset Management LLC cut its stake in shares of DT Midstream, Inc. (NYSE:DTM – Get Rating) by 62.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,788 shares of the company’s stock after selling 628,752 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.39% of DT Midstream worth $19,552,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Natixis bought a new position in shares of DT Midstream in the 2nd quarter worth about $29,548,000. First Trust Advisors LP raised its position in shares of DT Midstream by 129.8% in the 1st quarter. First Trust Advisors LP now owns 971,324 shares of the company’s stock worth $52,704,000 after acquiring an additional 548,645 shares in the last quarter. Capital Research Global Investors raised its position in shares of DT Midstream by 43.6% in the 1st quarter. Capital Research Global Investors now owns 1,540,502 shares of the company’s stock worth $83,588,000 after acquiring an additional 467,413 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of DT Midstream by 87.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 867,241 shares of the company’s stock worth $42,512,000 after acquiring an additional 403,835 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of DT Midstream by 67.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 887,019 shares of the company’s stock worth $48,129,000 after acquiring an additional 356,227 shares in the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on DT Midstream from $62.00 to $55.00 in a research report on Monday, February 20th. TheStreet lowered DT Midstream from a “c” rating to a “d” rating in a research report on Wednesday, February 22nd. Wolfe Research lowered DT Midstream from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, November 16th. Barclays decreased their target price on DT Midstream from $67.00 to $64.00 and set an “overweight” rating for the company in a research report on Wednesday, January 18th. Finally, Mizuho raised DT Midstream from a “neutral” rating to a “buy” rating and decreased their target price for the company from $60.00 to $59.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $58.86.
DT Midstream Stock Performance
DT Midstream (NYSE:DTM – Get Rating) last issued its quarterly earnings data on Thursday, February 16th. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). The company had revenue of $243.00 million for the quarter, compared to the consensus estimate of $238.07 million. DT Midstream had a return on equity of 8.27% and a net margin of 40.22%. During the same period in the prior year, the firm posted $0.89 earnings per share. Equities analysts forecast that DT Midstream, Inc. will post 3.58 earnings per share for the current fiscal year.
DT Midstream Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 15th. Stockholders of record on Monday, March 20th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.64. DT Midstream’s payout ratio is presently 67.19%.
DT Midstream Company Profile
DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.
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