Wedmont Private Capital Purchases New Position in DT Midstream, Inc. (NYSE:DTM)

Wedmont Private Capital purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,355 shares of the company’s stock, valued at approximately $281,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DTM. Dimensional Fund Advisors LP grew its holdings in DT Midstream by 12.6% during 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 during the last quarter. AQR Capital Management LLC grew its holdings in DT Midstream by 309.7% during the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock worth $18,262,000 after acquiring an additional 194,354 shares during the last quarter. Duff & Phelps Investment Management Co. grew its holdings in DT Midstream by 2,658.2% during the 2nd quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company’s stock worth $12,936,000 after acquiring an additional 175,518 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in DT Midstream by 14.1% during 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 during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in DT Midstream during the 2nd quarter worth approximately $6,309,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Up 2.5 %

DT Midstream stock opened at $85.87 on Monday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $85.91. The firm’s fifty day moving average is $77.29 and its 200 day moving average is $70.88. The company has a market capitalization of $8.34 billion, a PE ratio of 20.69 and a beta of 0.74.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. During the same quarter in the previous year, the company earned $0.93 EPS. As a group, sell-side analysts predict that DT Midstream, Inc. will post 3.99 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.42%. DT Midstream’s payout ratio is presently 70.84%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DTM shares. Barclays boosted their target price on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, October 3rd. Citigroup boosted 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. Wells Fargo & Company boosted their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Stifel Nicolaus boosted their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus price target of $73.00.

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.