Hanlon Investment Management Inc. Takes Position in DT Midstream, Inc. (NYSE:DTM)

Hanlon Investment Management Inc. acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,828 shares of the company's stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. UMB Bank n.a. increased its position in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company's stock valued at $25,000 after acquiring an additional 240 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of DT Midstream during the 2nd quarter worth approximately $26,000. V Square Quantitative Management LLC acquired a new stake in shares of DT Midstream during the 3rd quarter worth approximately $29,000. First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream during the 2nd quarter worth approximately $31,000. Finally, American National Bank grew its position in shares of DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company's stock worth $33,000 after buying an additional 234 shares during the period. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on DTM. Barclays lifted their price target on shares of DT Midstream from $85.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday. Wells Fargo & Company lifted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Stifel Nicolaus cut shares of DT Midstream from a "buy" rating to a "hold" rating and lifted their price target for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. lifted their price objective 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. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus target price of $80.44.

DT Midstream Stock Up 2.6 %

DTM traded up $2.35 during trading on Tuesday, reaching $92.22. The company had a trading volume of 704,959 shares, compared to its average volume of 641,712. 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 $92.47. The business's fifty day moving average price is $81.64 and its 200 day moving average price is $73.73. The company has a market cap of $8.96 billion, a P/E ratio of 22.44 and a beta of 0.71.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the firm posted $0.94 EPS. Equities analysts anticipate that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.19%. DT Midstream's payout ratio is 71.53%.

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.