Quantinno Capital Management LP Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Quantinno Capital Management LP bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,608 shares of the company’s stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DTM. Atria Investments Inc acquired a new stake in DT Midstream in the third quarter valued at approximately $666,000. Bridgewater Associates LP lifted its position in shares of DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after buying an additional 67,725 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in DT Midstream by 15.3% in the 2nd quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after acquiring an additional 16,171 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after acquiring an additional 267,269 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in DT Midstream by 151.8% during the third quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock worth $8,918,000 after acquiring an additional 68,350 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the topic of several research analyst reports. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research note on Tuesday, November 5th. Stifel Nicolaus cut DT Midstream from a “buy” rating to a “hold” rating and increased their target price for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. Barclays lifted their price target on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.78.

DT Midstream Stock Down 1.0 %

NYSE DTM opened at $100.62 on Monday. The business’s fifty day simple moving average is $95.53 and its 200-day simple moving average is $81.28. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $9.78 billion, a PE ratio of 24.48 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $109.85.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period last year, the firm earned $0.94 earnings per share. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.92%. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

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.