Bridgewater Associates LP Purchases 67,725 Shares of DT Midstream, Inc. (NYSE:DTM)

Bridgewater Associates LP raised its position in DT Midstream, Inc. (NYSE:DTM) by 57.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 185,306 shares of the company’s stock after purchasing an additional 67,725 shares during the period. Bridgewater Associates LP’s holdings in DT Midstream were worth $14,576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in DTM. Dimensional Fund Advisors LP grew its position in DT Midstream by 12.6% during 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. Bank of New York Mellon Corp grew its holdings in shares of DT Midstream by 3.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after purchasing an additional 38,305 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in shares of DT Midstream by 6.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after purchasing an additional 60,370 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after purchasing an additional 754,839 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DTM. Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and raised their target price for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Barclays boosted their price objective on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Wells Fargo & Company increased their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group lifted their target price on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $84.78.

DT Midstream Trading Down 0.9 %

NYSE DTM opened at $105.82 on Thursday. The stock has a market capitalization of $10.28 billion, a P/E ratio of 25.75 and a beta of 0.71. The business has a 50 day simple moving average of $89.51 and a 200 day simple moving average of $77.96. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85.

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

DT Midstream Dividend Announcement

The business 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. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.78%. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

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.