DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC boosted its position in DT Midstream, Inc. (NYSE:DTM) by 11.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,699 shares of the company’s stock after purchasing an additional 385 shares during the quarter. Bleakley Financial Group LLC’s holdings in DT Midstream were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DTM. Dimensional Fund Advisors LP raised its stake in DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of DT Midstream by 309.7% during the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock valued at $18,262,000 after acquiring an additional 194,354 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in shares of 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 period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of 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 period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of DT Midstream during the 2nd quarter worth about $6,309,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Up 0.2 %

NYSE DTM opened at $87.20 on Thursday. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $87.45. The company’s 50 day moving average price is $79.24 and its 200 day moving average price is $72.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 21.27 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $236.83 million. During the same quarter last year, the company earned $0.93 earnings per share. On average, sell-side analysts predict that DT Midstream, Inc. will post 3.99 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.37%. The ex-dividend date was Monday, September 16th. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

Wall Street Analyst Weigh In

DTM has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Citigroup increased their price objective 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 $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Stifel Nicolaus increased their price objective 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. Finally, Barclays raised their price target on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, DT Midstream has an average rating of “Hold” and a consensus price target of $75.29.

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.