Cetera Investment Advisers Decreases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Cetera Investment Advisers reduced its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 40.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,044 shares of the company's stock after selling 31,095 shares during the period. Cetera Investment Advisers' holdings in DT Midstream were worth $4,442,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Blackstone Inc. lifted its position in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the period. Zimmer Partners LP acquired a new stake in shares of DT Midstream in the fourth quarter valued at approximately $74,572,000. Westwood Holdings Group Inc. lifted its stake in DT Midstream by 108.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after buying an additional 564,899 shares during the period. Bank of Montreal Can increased its stake in DT Midstream by 733.3% during the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock worth $45,617,000 after purchasing an additional 403,730 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of DT Midstream by 18.7% during the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after acquiring an additional 386,670 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stifel Nicolaus upped their target price on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Barclays increased their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Wells Fargo & Company boosted their price target on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Morgan Stanley upped their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday. Finally, US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, DT Midstream presently has a consensus rating of "Hold" and a consensus price target of $110.91.

DT Midstream Stock Down 0.2%

Shares of NYSE:DTM traded down $0.21 on Thursday, hitting $104.13. 343,311 shares of the company traded hands, compared to its average volume of 1,023,057. The company has a market cap of $10.58 billion, a PE ratio of 27.94, a PEG ratio of 1.88 and a beta of 0.77. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 52 week low of $71.97 and a 52 week high of $114.50. The stock has a 50 day simple moving average of $104.59 and a 200-day simple moving average of $100.66.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter last year, the firm posted $0.98 EPS. As a group, research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.2%. DT Midstream's dividend payout ratio is 87.94%.

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.