Meeder Asset Management Inc. Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Meeder Asset Management Inc. acquired a new stake in DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 573 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in shares of DT Midstream during the second quarter worth approximately $52,000. Citigroup Inc. bought a new position in DT Midstream during the 2nd quarter worth $1,819,000. Kestrel Investment Management Corp acquired a new stake in shares of DT Midstream during the second quarter worth $1,856,000. Legal & General Group Plc bought a new stake in shares of DT Midstream in the second quarter valued at about $39,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of DT Midstream in the second quarter valued at about $16,860,000. Institutional investors own 73.80% of the company’s stock.

DTM has been the topic of a number of analyst reports. Morgan Stanley downgraded DT Midstream from an “equal weight” rating to an “underweight” rating and set a $54.00 price target on the stock. in a research report on Friday, January 7th. Zacks Investment Research raised DT Midstream from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, November 12th. US Capital Advisors upgraded shares of DT Midstream from a “hold” rating to an “overweight” rating in a research note on Thursday, November 18th. Wells Fargo & Company boosted their target price on shares of DT Midstream from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, December 16th. Finally, Mizuho increased their price target on shares of DT Midstream from $51.00 to $54.00 and gave the stock a “buy” rating in a research report on Wednesday, October 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $54.38.

DTM stock opened at $51.07 on Friday. The business has a 50-day moving average of $47.85. DT Midstream, Inc. has a 12 month low of $38.21 and a 12 month high of $51.08. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.59 and a quick ratio of 1.59.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Friday, November 5th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.02). The company had revenue of $212.00 million for the quarter, compared to analyst estimates of $183.03 million. As a group, analysts anticipate that DT Midstream, Inc. will post 3.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 15th. Stockholders of record on Monday, December 20th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, December 17th.

About DT Midstream

DT Midstream, Inc offers integrated natural gas services. The company operates through two segments, Pipeline and Other, and Gathering. It owns, operates, and develops an integrated portfolio of natural gas interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines, gathering systems, treatment plants, and compression and surface facilities.

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Institutional Ownership by Quarter for DT Midstream (NYSE:DTM)

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