American Century Companies Inc. Cuts Position in DT Midstream, Inc. (NYSE:DTM)

American Century Companies Inc. decreased its holdings in DT Midstream, Inc. (NYSE:DTM) by 63.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,105 shares of the company’s stock after selling 77,540 shares during the quarter. American Century Companies Inc.’s holdings in DT Midstream were worth $3,204,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

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

DT Midstream Trading Down 1.1 %

Shares of DTM opened at $78.35 on Friday. DT Midstream, Inc. has a 12-month low of $50.88 and a 12-month high of $79.73. The firm has a market capitalization of $7.61 billion, a P/E ratio of 19.11 and a beta of 0.74. The firm has a 50-day moving average price of $75.59 and a 200 day moving average price of $68.91. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

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

DT Midstream Dividend Announcement

The firm 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 $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.75%. DT Midstream’s dividend payout ratio is currently 71.71%.

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.