Infrastructure Capital Advisors LLC Takes Position in DT Midstream, Inc. (NYSE:DTM)

Infrastructure Capital Advisors LLC purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 25,000 shares of the company’s stock, valued at approximately $1,966,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in DT Midstream by 3.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,200 shares of the company’s stock worth $18,973,000 after acquiring an additional 7,956 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in DT Midstream by 7.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,632 shares of the company’s stock worth $1,702,000 after acquiring an additional 1,446 shares during the last quarter. FORA Capital LLC grew its position in DT Midstream by 31.9% during the 3rd quarter. FORA Capital LLC now owns 17,297 shares of the company’s stock worth $1,361,000 after acquiring an additional 4,186 shares during the last quarter. Bridgewater Associates LP grew its position in DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after acquiring an additional 67,725 shares during the last quarter. Finally, Townsquare Capital LLC grew its position in DT Midstream by 43.2% during the 3rd quarter. Townsquare Capital LLC now owns 7,228 shares of the company’s stock worth $569,000 after acquiring an additional 2,181 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Down 0.9 %

Shares of NYSE:DTM opened at $105.81 on Friday. The stock has a fifty day simple moving average of $90.08 and a two-hundred day simple moving average of $78.16. The stock has a market capitalization of $10.28 billion, a price-to-earnings ratio of 25.74 and a beta of 0.71. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85. 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 posted its quarterly earnings results 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 return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter in the prior year, the firm earned $0.94 EPS. On average, research analysts anticipate that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DTM. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Barclays raised their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their target price on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $84.78.

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.