Squarepoint Ops LLC Boosts Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Squarepoint Ops LLC lifted its holdings in DT Midstream, Inc. (NYSE:DTM) by 1,273.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 50,182 shares of the company’s stock after purchasing an additional 46,527 shares during the period. Squarepoint Ops LLC’s holdings in DT Midstream were worth $3,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTM. First Trust Advisors LP raised its stake in DT Midstream by 284.6% in the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after buying an additional 1,128,056 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after acquiring an additional 490,613 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of DT Midstream by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock worth $49,438,000 after acquiring an additional 99,755 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of DT Midstream during the 2nd quarter worth $6,309,000. Finally, Tortoise Capital Advisors L.L.C. boosted its position in DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after purchasing an additional 60,370 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Price Performance

Shares of DTM opened at $78.85 on Wednesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day moving average price is $75.80 and its 200-day moving average price is $69.49. DT Midstream, Inc. has a 1-year low of $50.88 and a 1-year high of $79.73. The firm has a market capitalization of $7.66 billion, a PE ratio of 19.23 and a beta of 0.74.

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 for the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the business earned $0.93 EPS. On average, equities research analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.73%. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Wall Street Analyst Weigh In

DTM has been the subject of a number of recent research reports. Stifel Nicolaus boosted their target price on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays boosted their price objective 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. Wells Fargo & Company increased their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Citigroup lifted their price target 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. Finally, 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 report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.75.

DT Midstream Company 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.