City Holding Co. Buys 888 Shares of DT Midstream, Inc. (NYSE:DTM)

City Holding Co. lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,465 shares of the company’s stock after acquiring an additional 888 shares during the quarter. City Holding Co.’s holdings in DT Midstream were worth $1,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. FMR LLC raised its holdings in DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares during the period. Brookfield Corp ON grew its position in shares of DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares in the last quarter. International Assets Investment Management LLC bought a new stake in DT Midstream during the 3rd quarter valued at approximately $39,166,000. Charles Schwab Investment Management Inc. lifted its holdings in DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Finally, State Street Corp lifted its holdings in DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DTM. The Goldman Sachs Group increased their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Wells Fargo & Company lifted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Morgan Stanley increased their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.88.

DT Midstream Stock Performance

DT Midstream stock opened at $112.55 on Monday. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $112.86. The company has a market capitalization of $10.93 billion, a PE ratio of 27.38 and a beta of 0.79. The company has a 50 day moving average price of $102.80 and a 200-day moving average price of $87.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the prior year, the company posted $0.94 earnings per share. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a dividend of $0.735 per share. The ex-dividend date was Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.61%. DT Midstream’s dividend payout ratio is presently 71.53%.

DT Midstream 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.