DT Midstream, Inc. (NYSE:DTM) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC decreased its holdings in DT Midstream, Inc. (NYSE:DTM) by 93.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489 shares of the company’s stock after selling 6,631 shares during the quarter. Krane Funds Advisors LLC’s holdings in DT Midstream were worth $38,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DTM. Dimensional Fund Advisors LP boosted its holdings in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after acquiring an additional 490,613 shares in the last quarter. AQR Capital Management LLC boosted its stake in DT Midstream by 309.7% in the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock worth $18,262,000 after purchasing an additional 194,354 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in DT Midstream by 2,658.2% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company’s stock valued at $12,936,000 after purchasing an additional 175,518 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of DT Midstream by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock worth $49,438,000 after buying an additional 99,755 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new position in shares of DT Midstream in the second quarter worth $6,309,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DTM shares. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Stifel Nicolaus increased their price objective on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Wells Fargo & Company lifted their target price on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Barclays upped their target price on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Finally, 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 report on Wednesday, September 4th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $73.00.

DT Midstream Trading Down 0.4 %

DTM stock opened at $86.20 on Friday. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $87.45. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $8.37 billion, a P/E ratio of 21.02 and a beta of 0.74. The company’s 50-day simple moving average is $78.39 and its 200-day simple moving average is $71.44.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period last year, the company earned $0.93 earnings per share. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.99 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date was Monday, September 16th. DT Midstream’s dividend payout ratio is presently 71.71%.

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.