AQR Capital Management LLC Raises Stock Position in DT Midstream, Inc. (NYSE:DTM)

AQR Capital Management LLC lifted its stake in DT Midstream, Inc. (NYSE:DTM) by 309.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 257,101 shares of the company’s stock after purchasing an additional 194,354 shares during the period. AQR Capital Management LLC owned 0.26% of DT Midstream worth $18,262,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after buying an additional 490,613 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of DT Midstream by 1.6% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock worth $144,398,000 after acquiring an additional 37,463 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of DT Midstream by 284.6% in the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after purchasing an additional 1,128,056 shares during the period. Bank of New York Mellon Corp boosted its position in shares of DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after purchasing an additional 38,305 shares in the last quarter. Finally, Tortoise Capital Advisors L.L.C. grew its stake in DT Midstream by 6.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock worth $72,737,000 after purchasing an additional 60,370 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM opened at $78.65 on Tuesday. DT Midstream, Inc. has a 12 month low of $50.88 and a 12 month high of $79.73. The business’s fifty day simple moving average is $75.73 and its two-hundred day simple moving average is $69.34. 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 company has a market cap of $7.64 billion, a price-to-earnings ratio of 19.18 and a beta of 0.74.

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

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.74%. DT Midstream’s dividend payout ratio is currently 71.71%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DTM shares. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. 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 raised their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Citigroup boosted their price target on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus raised their price objective on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $70.75.

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.