International Assets Investment Management LLC Invests $39.17 Million in DT Midstream, Inc. (NYSE:DTM)

International Assets Investment Management LLC purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 497,918 shares of the company's stock, valued at approximately $39,166,000. International Assets Investment Management LLC owned about 0.51% of DT Midstream as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TFG Advisers LLC boosted its stake in DT Midstream by 3.1% in the third quarter. TFG Advisers LLC now owns 5,774 shares of the company's stock worth $454,000 after buying an additional 172 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of DT Midstream by 27.1% in the 3rd quarter. Private Advisor Group LLC now owns 4,695 shares of the company's stock valued at $369,000 after purchasing an additional 1,000 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of DT Midstream by 22.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,082 shares of the company's stock valued at $636,000 after purchasing an additional 1,494 shares during the last quarter. New Century Financial Group LLC purchased a new position in DT Midstream in the 3rd quarter worth $341,000. Finally, Raymond James & Associates lifted its stake in shares of DT Midstream by 68.4% in the 3rd quarter. Raymond James & Associates now owns 30,554 shares of the company's stock valued at $2,403,000 after acquiring an additional 12,406 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DT Midstream stock traded up $0.08 on Monday, hitting $87.47. 634,930 shares of the company's stock were exchanged, compared to its average volume of 636,294. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $88.21. The company has a 50-day simple moving average of $80.02 and a 200-day simple moving average of $72.59. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $8.49 billion, a PE ratio of 21.31 and a beta of 0.74.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The business had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same quarter in the previous year, the company posted $0.93 earnings per share. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.99 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were paid a $0.735 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.36%. DT Midstream's payout ratio is currently 71.71%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DTM shares. Stifel Nicolaus lifted their target price on shares of DT Midstream from $70.00 to $78.00 and gave the stock a "buy" rating in a research note on Wednesday, July 31st. Morgan Stanley lifted their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday. Citigroup boosted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a "neutral" rating in a report on Wednesday, September 4th. Barclays increased their target price on DT Midstream from $76.00 to $85.00 and gave the company an "overweight" rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a "neutral" rating in a research note on Friday, October 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $77.38.

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.