Bridgewater Associates LP Purchases 67,725 Shares of DT Midstream, Inc. (NYSE:DTM)

Bridgewater Associates LP boosted its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 57.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 185,306 shares of the company's stock after acquiring an additional 67,725 shares during the period. Bridgewater Associates LP owned 0.19% of DT Midstream worth $14,576,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd grew its stake in shares of DT Midstream by 7.9% in the first quarter. Quadrature Capital Ltd now owns 7,149 shares of the company's stock worth $437,000 after purchasing an additional 522 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of DT Midstream in the 1st quarter worth approximately $73,000. Price T Rowe Associates Inc. MD increased its stake in shares of DT Midstream by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 46,864 shares of the company's stock valued at $2,864,000 after buying an additional 2,997 shares during the period. Bayesian Capital Management LP raised its holdings in shares of DT Midstream by 10.3% during the first quarter. Bayesian Capital Management LP now owns 6,400 shares of the company's stock valued at $391,000 after acquiring an additional 600 shares in the last quarter. Finally, Invst LLC purchased a new stake in DT Midstream in the first quarter worth $782,000. Institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

DTM has been the subject of several research reports. Morgan Stanley upped their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. Wells Fargo & Company increased their price target on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Barclays raised their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. The Goldman Sachs Group upped their target price on DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.78.

DT Midstream Stock Down 0.9 %

DTM stock traded down $0.94 on Thursday, reaching $105.81. 946,507 shares of the company traded hands, compared to its average volume of 674,567. The firm has a fifty day simple moving average of $90.08 and a 200-day simple moving average of $78.16. The company has a market cap of $10.28 billion, a P/E ratio of 25.74 and a beta of 0.71. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM - Get Free Report) last issued 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 net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter in the previous year, the business earned $0.94 earnings per share. Research analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current 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 paid a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.78%. DT Midstream's dividend payout ratio 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.