Principal Financial Group Inc. Purchases 217,185 Shares of DT Midstream, Inc. $DTM

Principal Financial Group Inc. increased its position in DT Midstream, Inc. (NYSE:DTM) by 76.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 500,329 shares of the company’s stock after purchasing an additional 217,185 shares during the period. Principal Financial Group Inc. owned approximately 0.49% of DT Midstream worth $56,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Lee Financial Co bought a new position in shares of DT Midstream in the third quarter valued at $249,000. Independent Advisor Alliance raised its holdings in shares of DT Midstream by 6.7% in the 3rd quarter. Independent Advisor Alliance now owns 6,262 shares of the company’s stock worth $708,000 after acquiring an additional 391 shares during the last quarter. Arizona State Retirement System lifted its position in DT Midstream by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 30,061 shares of the company’s stock valued at $3,399,000 after acquiring an additional 413 shares in the last quarter. TD Waterhouse Canada Inc. lifted its position in DT Midstream by 11.9% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 11,594 shares of the company’s stock valued at $1,322,000 after acquiring an additional 1,237 shares in the last quarter. Finally, First Citizens Bank & Trust Co. boosted its stake in DT Midstream by 3.8% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 14,144 shares of the company’s stock valued at $1,599,000 after purchasing an additional 512 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 0.8%

DTM stock opened at $126.43 on Thursday. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $128.35. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $12.85 billion, a PE ratio of 31.93, a PEG ratio of 2.27 and a beta of 0.77. The stock has a 50-day simple moving average of $120.55 and a two-hundred day simple moving average of $112.34.

Analyst Ratings Changes

DTM has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Stifel Nicolaus upped their price target on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Morgan Stanley raised their price target on shares of DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a research report on Wednesday, November 12th. Barclays lifted their price target on DT Midstream from $114.00 to $119.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 14th. Finally, Bank of America lifted their price objective on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.91.

About DT Midstream

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.