Victory Capital Management Inc. Has $8.92 Million Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Victory Capital Management Inc. boosted its stake in DT Midstream, Inc. (NYSE:DTM) by 151.8% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 113,374 shares of the company’s stock after buying an additional 68,350 shares during the period. Victory Capital Management Inc.’s holdings in DT Midstream were worth $8,918,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers grew its stake in DT Midstream by 1,223.2% in the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock valued at $3,306,000 after buying an additional 50,018 shares during the last quarter. Atria Investments Inc acquired a new position in DT Midstream in the 3rd quarter valued at about $666,000. Envestnet Asset Management Inc. grew its position in shares of DT Midstream by 15.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock worth $8,657,000 after purchasing an additional 16,171 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of DT Midstream by 31.9% during the 3rd quarter. GSA Capital Partners LLP now owns 27,209 shares of the company’s stock worth $2,140,000 after purchasing an additional 6,575 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of DT Midstream during the 2nd quarter worth approximately $764,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $108.31 on Friday. The company has a market cap of $10.52 billion, a price-to-earnings ratio of 26.35 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50 day simple moving average of $87.72 and a 200 day simple moving average of $76.89. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $108.56.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the business posted $0.94 EPS. Research analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DTM. Morgan Stanley increased their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their target price 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. Barclays upped their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $115.00 in a report on Thursday. Finally, Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and upped their price target for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average price target of $84.78.

DT Midstream 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.