Infrastructure Capital Advisors LLC Acquires Shares of 25,000 DT Midstream, Inc. (NYSE:DTM)

Infrastructure Capital Advisors LLC bought a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 25,000 shares of the company's stock, valued at approximately $1,966,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its position in shares of DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company's stock worth $63,396,000 after acquiring an additional 754,839 shares in the last quarter. International Assets Investment Management LLC bought a new stake in DT Midstream in the third quarter worth approximately $39,166,000. Dimensional Fund Advisors LP lifted its stake in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock valued at $312,070,000 after buying an additional 490,613 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock valued at $90,978,000 after buying an additional 267,269 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of DT Midstream by 309.7% during the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company's stock worth $18,262,000 after buying an additional 194,354 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Up 0.3 %

Shares of DTM stock traded up $0.31 during trading hours on Friday, reaching $106.12. The company had a trading volume of 507,554 shares, compared to its average volume of 673,844. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 25.82 and a beta of 0.71. 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, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85. The business has a fifty day simple moving average of $90.66 and a 200-day simple moving average of $78.35.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data 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 last year, the business posted $0.94 earnings per share. On average, research analysts expect that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's payout ratio is 71.53%.

Wall Street Analyst Weigh In

DTM has been the topic of a number of research reports. Wells Fargo & Company boosted their target price 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. Stifel Nicolaus lowered shares of DT Midstream from a "buy" rating to a "hold" rating and upped their price objective for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research note on Friday, October 25th. Barclays upped their price target on DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Finally, Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and raised their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $84.78.

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.