Meeder Advisory Services Inc. Cuts Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Meeder Advisory Services Inc. cut its stake in DT Midstream, Inc. (NYSE:DTM) by 8.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,945 shares of the company’s stock after selling 429 shares during the period. Meeder Advisory Services Inc.’s holdings in DT Midstream were worth $351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of DTM. Blue Trust Inc. raised its position in DT Midstream by 16.0% in the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $73,000 after purchasing an additional 142 shares in the last quarter. Raymond James & Associates raised its holdings in DT Midstream by 1.1% in the second quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after acquiring an additional 201 shares in the last quarter. GAMMA Investing LLC lifted its stake in DT Midstream by 21.3% in the first quarter. GAMMA Investing LLC now owns 1,185 shares of the company’s stock worth $72,000 after acquiring an additional 208 shares during the last quarter. Azimuth Capital Investment Management LLC grew its holdings in DT Midstream by 3.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 6,289 shares of the company’s stock worth $345,000 after acquiring an additional 209 shares in the last quarter. Finally, Commerce Bank raised its holdings in shares of DT Midstream by 1.2% in the 4th quarter. Commerce Bank now owns 18,815 shares of the company’s stock valued at $1,031,000 after purchasing an additional 220 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $76.80 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream, Inc. has a one year low of $50.88 and a one year high of $78.83. The company has a 50-day simple moving average of $74.30 and a 200-day simple moving average of $67.79. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 18.73 and a beta of 0.74.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. During the same quarter last year, the company earned $0.93 earnings per share. On average, analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.83%. DT Midstream’s payout ratio is currently 71.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Barclays increased their price objective on DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Wells Fargo & Company boosted their target price on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Stifel Nicolaus increased their price target on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Citigroup boosted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $70.75.

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.