Recurrent Investment Advisors LLC Purchases 29,156 Shares of DT Midstream, Inc. (NYSE:DTM)

Recurrent Investment Advisors LLC increased its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 327,859 shares of the company's stock after acquiring an additional 29,156 shares during the quarter. DT Midstream comprises about 2.5% of Recurrent Investment Advisors LLC's portfolio, making the stock its 16th largest holding. Recurrent Investment Advisors LLC owned approximately 0.34% of DT Midstream worth $25,789,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company's stock worth $25,000 after purchasing an additional 240 shares in the last quarter. Family Firm Inc. purchased a new stake in shares of DT Midstream in the second quarter worth about $26,000. V Square Quantitative Management LLC bought a new position in DT Midstream during the third quarter valued at approximately $29,000. First Command Advisory Services Inc. purchased a new position in DT Midstream during the 2nd quarter valued at approximately $31,000. Finally, American National Bank increased its stake in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after acquiring an additional 234 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on DTM. Stifel Nicolaus downgraded 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. Wells Fargo & Company increased their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. Citigroup upgraded shares of DT Midstream from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Barclays increased their price target on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. lifted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $84.78.

DT Midstream Trading Up 2.4 %

NYSE DTM traded up $2.40 during trading on Thursday, hitting $104.27. The stock had a trading volume of 639,739 shares, compared to its average volume of 678,056. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85. The stock has a 50 day simple moving average of $92.61 and a 200 day simple moving average of $79.47. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 25.37 and a beta of 0.77. 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 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 previous year, the company posted $0.94 earnings per share. Sell-side analysts predict that DT Midstream, Inc. will post 3.85 earnings per share for the current year.

DT Midstream Dividend Announcement

The business 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 dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date is Monday, December 16th. DT Midstream's dividend payout ratio is currently 71.53%.

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.