Bridgewater Advisors Inc. Makes New $1.42 Million Investment in DT Midstream, Inc. (NYSE:DTM)

Bridgewater Advisors Inc. acquired 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 Securities & Exchange Commission. The institutional investor acquired 18,064 shares of the company's stock, valued at approximately $1,421,000.

Several other institutional investors have also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in DT Midstream by 76.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company's stock valued at $46,000 after acquiring an additional 330 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of DT Midstream in the first quarter worth about $284,000. Texas Permanent School Fund Corp boosted its stake in DT Midstream by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 84,868 shares of the company's stock valued at $5,185,000 after buying an additional 1,158 shares during the last quarter. Illinois Municipal Retirement Fund grew its holdings in DT Midstream by 137.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company's stock valued at $1,840,000 after buying an additional 17,437 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in DT Midstream in the 1st quarter worth approximately $293,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Trading Up 0.9 %

NYSE:DTM traded up $0.91 during midday trading on Thursday, hitting $97.07. The stock had a trading volume of 1,078,781 shares, compared to its average volume of 645,143. 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 market capitalization of $9.43 billion, a price-to-earnings ratio of 23.40 and a beta of 0.71. The stock has a 50-day moving average of $82.34 and a 200 day moving average of $74.09. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $97.69.

DT Midstream (NYSE:DTM - Get Free Report) last released 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 company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, sell-side analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 3.03%. DT Midstream's dividend payout ratio (DPR) is 71.53%.

Analyst Ratings Changes

A number of research analysts recently weighed in on DTM shares. The Goldman Sachs Group raised their target price on shares of DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Stifel Nicolaus downgraded DT Midstream from a "buy" rating to a "hold" rating and boosted their target price for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, Barclays boosted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DT Midstream has a consensus rating of "Hold" and an average target price 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.