Tortoise Capital Advisors L.L.C. Increases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Tortoise Capital Advisors L.L.C. lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,024,036 shares of the company's stock after buying an additional 60,370 shares during the period. DT Midstream comprises approximately 1.0% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 21st biggest position. Tortoise Capital Advisors L.L.C. owned approximately 1.05% of DT Midstream worth $72,737,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of DTM. Arizona State Retirement System boosted its holdings in DT Midstream by 1.9% in the second quarter. Arizona State Retirement System now owns 27,150 shares of the company's stock valued at $1,928,000 after acquiring an additional 500 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of DT Midstream by 89.4% during the second quarter. Victory Capital Management Inc. now owns 45,024 shares of the company's stock worth $3,198,000 after buying an additional 21,252 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in DT Midstream during the second quarter worth $538,000. CIBC Asset Management Inc acquired a new position in DT Midstream in the second quarter valued at $202,000. Finally, FSA Advisors Inc. acquired a new position in DT Midstream in the second quarter valued at $300,000. Institutional investors and hedge funds own 81.53% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DTM. Barclays increased their price target on DT Midstream from $66.00 to $72.00 and gave the stock an "overweight" rating in a report on Wednesday, July 17th. Citigroup raised their target price on DT Midstream from $62.00 to $76.00 and gave the stock a "neutral" rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on DT Midstream from $70.00 to $78.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Wells Fargo & Company increased their price target on DT Midstream from $77.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $70.75.

DT Midstream Stock Down 2.2 %

Shares of NYSE:DTM traded down $1.70 during trading on Friday, reaching $75.12. 330,031 shares of the stock were exchanged, compared to its average volume of 650,559. DT Midstream, Inc. has a 1-year low of $50.88 and a 1-year high of $78.83. The stock has a fifty day moving average of $73.77 and a two-hundred day moving average of $67.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of 18.32 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The firm had revenue of $244.00 million for the quarter, compared to the consensus estimate of $236.83 million. During the same quarter in the prior year, the company posted $0.93 earnings per share. Research analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.91%. DT Midstream's dividend payout ratio is presently 71.71%.

DT Midstream Company 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.