Charles Schwab Investment Management Inc. Acquires 5,218 Shares of DT Midstream, Inc. (NYSE:DTM)

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in DT Midstream, Inc. by 0.5% during Q1, owning approximately 1.13% of the company valued at $110.79 million.
• DT Midstream announced a quarterly dividend of $0.82, which signifies a 3.1% dividend yield, and has a dividend payout ratio of 87.94%.
• Analysts have mixed views on DT Midstream, with ratings ranging from sell to buy, and an average price target of $110.91.

Charles Schwab Investment Management Inc. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 0.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,148,324 shares of the company's stock after purchasing an additional 5,218 shares during the period. Charles Schwab Investment Management Inc. owned about 1.13% of DT Midstream worth $110,790,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DTM. Blackstone Inc. raised its stake in shares of DT Midstream by 2,783.1% during the 4th 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 bought a new stake in DT Midstream in the 4th quarter valued at about $74,572,000. Vanguard Group Inc. raised its stake in DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after acquiring an additional 621,183 shares during the period. Westwood Holdings Group Inc. raised its stake in DT Midstream by 108.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after acquiring an additional 564,899 shares during the period. Finally, GAMMA Investing LLC raised its stake in DT Midstream by 9,693.3% in the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock valued at $37,652,000 after acquiring an additional 386,277 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Down 0.2%

DTM stock opened at $104.39 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $10.60 billion, a PE ratio of 27.99, a PEG ratio of 1.91 and a beta of 0.77. DT Midstream, Inc. has a twelve month low of $71.97 and a twelve month high of $114.50. The stock has a 50-day simple moving average of $104.54 and a two-hundred day simple moving average of $100.34.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $299.00 million for the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same period in the prior year, the business earned $0.98 earnings per share. On average, equities analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DTM shares. Barclays boosted their price objective on 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 objective on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Stifel Nicolaus boosted their price objective on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Morgan Stanley boosted their price objective on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $110.91.

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.

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