18,064 Shares in DT Midstream, Inc. (NYSE:DTM) Acquired by Bridgewater Advisors Inc.

Bridgewater Advisors Inc. bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 18,064 shares of the company’s stock, valued at approximately $1,421,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of DT Midstream by 16.0% in the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after buying an additional 142 shares during the last quarter. TFG Advisers LLC increased its holdings in shares of DT Midstream by 3.1% during the 3rd quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock valued at $454,000 after purchasing an additional 172 shares in the last quarter. Princeton Global Asset Management LLC lifted its stake in shares of DT Midstream by 8.6% in the 3rd quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock valued at $199,000 after purchasing an additional 200 shares during the period. Raymond James & Associates grew its position in DT Midstream by 1.1% during the second quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after buying an additional 201 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in DT Midstream by 39.8% in the second quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock valued at $56,000 after buying an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $96.16 on Thursday. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $96.67. The company has a market cap of $9.34 billion, a price-to-earnings ratio of 23.40 and a beta of 0.71. 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 company has a fifty day simple moving average of $82.34 and a two-hundred day simple moving average of $74.09.

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 analysts’ consensus estimates of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the prior year, the business earned $0.94 earnings per share. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DTM shares. Barclays upped their target price on DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday. 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 report on Thursday, October 31st. Stifel Nicolaus cut shares of 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 research report on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Finally, The Goldman Sachs Group increased their price target on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream has an average rating of “Hold” and a consensus price target of $80.44.

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.