Dimensional Fund Advisors LP Buys 490,613 Shares of DT Midstream, Inc. (NYSE:DTM)

Dimensional Fund Advisors LP boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 12.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,393,511 shares of the company’s stock after buying an additional 490,613 shares during the quarter. Dimensional Fund Advisors LP’s holdings in DT Midstream were worth $312,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its position in shares of DT Midstream by 15.3% during the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after acquiring an additional 16,171 shares during the period. Wealthspire Advisors LLC bought a new stake in DT Midstream during the 2nd quarter valued at $262,000. Parallel Advisors LLC lifted its holdings in shares of DT Midstream by 137.0% in the 2nd quarter. Parallel Advisors LLC now owns 4,609 shares of the company’s stock worth $327,000 after buying an additional 2,664 shares during the period. CoreCap Advisors LLC bought a new position in shares of DT Midstream during the 2nd quarter worth $1,010,000. Finally, Federated Hermes Inc. increased its stake in shares of DT Midstream by 19.3% during the second quarter. Federated Hermes Inc. now owns 9,819 shares of the company’s stock valued at $697,000 after buying an additional 1,590 shares during the period. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

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

DT Midstream Price Performance

NYSE DTM opened at $77.56 on Wednesday. DT Midstream, Inc. has a 12-month low of $50.88 and a 12-month high of $78.83. The firm’s fifty day simple moving average is $74.61 and its two-hundred day simple moving average is $68.07. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $7.53 billion, a P/E ratio of 18.92 and a beta of 0.74.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. During the same period in the previous year, the business earned $0.93 EPS. Analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s 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.