Dorsey Wright & Associates Purchases New Holdings in DT Midstream, Inc. (NYSE:DTM)

Dorsey Wright & Associates bought a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 60,188 shares of the company's stock, valued at approximately $4,734,000. DT Midstream makes up about 1.1% of Dorsey Wright & Associates' investment portfolio, making the stock its 28th largest holding. Dorsey Wright & Associates owned 0.06% of DT Midstream at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. XTX Topco Ltd acquired a new position in DT Midstream in the 3rd quarter worth about $877,000. Brookfield Corp ON increased its stake in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after buying an additional 655,695 shares during the period. Wellington Management Group LLP increased its stake in shares of DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company's stock valued at $11,449,000 after buying an additional 100,825 shares during the period. State Street Corp increased its stake in shares of DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock valued at $268,757,000 after buying an additional 202,447 shares during the period. Finally, Stifel Financial Corp increased its stake in shares of DT Midstream by 41.5% in the third quarter. Stifel Financial Corp now owns 65,780 shares of the company's stock valued at $5,174,000 after buying an additional 19,297 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DTM. Stifel Nicolaus lowered DT Midstream from a "buy" rating to a "hold" rating and upped their target price for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group upped their target price on DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a research report on Tuesday, November 5th. Barclays upped their target price on DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Wells Fargo & Company upped 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. Finally, Morgan Stanley upped their target price on DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $84.78.

DT Midstream Stock Down 1.3 %

Shares of DT Midstream stock traded down $1.34 on Friday, hitting $102.93. The company had a trading volume of 639,420 shares, compared to its average volume of 1,012,100. The stock has a market capitalization of $10.00 billion, a price-to-earnings ratio of 25.04 and a beta of 0.77. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $109.85. The stock has a 50 day moving average of $93.64 and a 200-day moving average of $79.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million during 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 company earned $0.94 earnings per share. As a group, sell-side analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

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 paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's dividend payout ratio (DPR) is presently 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.