Bridgewater Advisors Inc. Reduces Position in DT Midstream, Inc. (NYSE:DTM)

Bridgewater Advisors Inc. reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 5.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 17,092 shares of the company’s stock after selling 972 shares during the quarter. Bridgewater Advisors Inc.’s holdings in DT Midstream were worth $1,851,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DTM. State Street Corp boosted its stake in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares in the last quarter. Geode Capital Management LLC boosted its position in DT Midstream by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 valued at $90,978,000 after acquiring an additional 267,269 shares during the period. Brookfield Corp ON raised its position in shares of DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after acquiring an additional 655,695 shares in the last quarter. Finally, FMR LLC lifted its stake 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 worth $63,396,000 after purchasing an additional 754,839 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DTM shares. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and lifted their price target for the stock from $89.00 to $106.00 in a research report on Thursday, December 19th. Barclays began coverage on DT Midstream in a research report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 target price on the stock. Finally, Wells Fargo & Company lifted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and a consensus price target of $95.88.

DT Midstream Price Performance

NYSE:DTM opened at $112.55 on Monday. The stock has a 50 day moving average of $102.80 and a two-hundred day moving average of $87.25. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $112.86. The firm has a market cap of $10.93 billion, a P/E ratio of 27.38 and a beta of 0.79. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

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

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th were issued a $0.735 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 2.61%. DT Midstream’s payout ratio is 71.53%.

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.