Jennison Associates LLC Sells 18,803 Shares of DT Midstream, Inc. (NYSE:DTM)

Jennison Associates LLC decreased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,414 shares of the company's stock after selling 18,803 shares during the quarter. Jennison Associates LLC owned 0.21% of DT Midstream worth $20,590,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Forum Financial Management LP raised its holdings in DT Midstream by 16.5% in the 1st quarter. Forum Financial Management LP now owns 3,952 shares of the company's stock valued at $381,000 after buying an additional 561 shares during the period. Sigma Planning Corp raised its stake in shares of DT Midstream by 5.5% during the first quarter. Sigma Planning Corp now owns 20,284 shares of the company's stock worth $1,957,000 after purchasing an additional 1,062 shares during the last quarter. Edgestream Partners L.P. grew its holdings in DT Midstream by 490.2% during the first quarter. Edgestream Partners L.P. now owns 133,529 shares of the company's stock worth $12,883,000 after acquiring an additional 110,903 shares during the period. Florida Financial Advisors LLC acquired a new stake in DT Midstream in the first quarter valued at $448,000. Finally, Securian Asset Management Inc. boosted its stake in shares of DT Midstream by 4.8% during the first quarter. Securian Asset Management Inc. now owns 7,695 shares of the company's stock valued at $742,000 after acquiring an additional 351 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Price Performance

DTM stock traded up $1.67 during trading on Thursday, hitting $100.84. The stock had a trading volume of 223,550 shares, compared to its average volume of 1,034,925. The company's 50 day moving average price is $104.88 and its two-hundred day moving average price is $100.97. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.80 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. DT Midstream, Inc. has a 1-year low of $69.82 and a 1-year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. During the same period in the prior year, the firm earned $0.99 earnings per share. On average, sell-side analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Monday, June 16th. DT Midstream's dividend payout ratio (DPR) is 89.37%.

Analysts Set New Price Targets

Several equities research analysts recently commented on DTM shares. Barclays raised their target price on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group upped their price target on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, Morgan Stanley set a $115.00 price objective on DT Midstream and gave the company an "underweight" rating in a research report on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $109.27.

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.