MML Investors Services LLC Invests $558,000 in DT Midstream, Inc. (NYSE:DTM)

MML Investors Services LLC acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,090 shares of the company's stock, valued at approximately $558,000.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in DT Midstream by 225.4% during the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company's stock worth $11,449,000 after purchasing an additional 100,825 shares during the last quarter. Atria Investments Inc acquired a new stake in DT Midstream during the third quarter worth approximately $666,000. Bridgewater Associates LP lifted its position in shares of DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company's stock worth $14,576,000 after buying an additional 67,725 shares during the last quarter. State Street Corp boosted its holdings in shares of DT Midstream by 6.4% in the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of DT Midstream by 30.1% in the 3rd 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 last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

Shares of DT Midstream stock traded up $0.67 during trading on Monday, reaching $101.58. The company's stock had a trading volume of 978,832 shares, compared to its average volume of 705,497. The business has a 50 day moving average price of $96.95 and a 200-day moving average price of $82.38. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85. The company has a market capitalization of $9.87 billion, a P/E ratio of 24.72 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM - Get Free Report) last issued its 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). The company had revenue of $248.00 million for 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 quarter in the previous year, the firm posted $0.94 earnings per share. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.84 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given 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 2.89%. DT Midstream's payout ratio is currently 71.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DTM shares. Barclays boosted their price target on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Morgan Stanley raised their price target on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Wells Fargo & Company upped their price objective on DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.89.

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.