Point72 Asset Management L.P. Acquires Shares of 105,777 DT Midstream, Inc. (NYSE:DTM)

Point72 Asset Management L.P. bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 105,777 shares of the company's stock, valued at approximately $8,320,000. Point72 Asset Management L.P. owned about 0.11% of DT Midstream as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DTM. Millburn Ridgefield Corp acquired a new position in DT Midstream during the third quarter worth about $148,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of DT Midstream during the 3rd quarter worth approximately $327,000. Captrust Financial Advisors grew its position in shares of DT Midstream by 5.7% in the third quarter. Captrust Financial Advisors now owns 5,698 shares of the company's stock valued at $448,000 after purchasing an additional 309 shares in the last quarter. Walleye Capital LLC purchased a new stake in DT Midstream in the 3rd quarter valued at $285,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in shares of DT Midstream in the third quarter valued at about $1,966,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Trading Down 1.3 %

NYSE:DTM traded down $1.34 on Friday, reaching $102.93. 639,420 shares of the company's stock were exchanged, compared to its average volume of 1,012,100. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 25.04 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $93.64 and a 200-day moving average of $80.08.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results 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 return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million for the quarter, compared to analysts' expectations of $242.64 million. During the same period in the previous year, the company earned $0.94 earnings per share. As a group, analysts expect that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Monday, December 16th. DT Midstream's payout ratio is currently 71.53%.

Analysts Set New Price Targets

Several analysts have recently commented on DTM shares. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research report on Friday, October 4th. Barclays lifted their target price on DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Wells Fargo & Company increased their price target on DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Stifel Nicolaus downgraded DT Midstream from a "buy" rating to a "hold" rating and raised their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an "underweight" rating in a research report on Friday, October 25th. Two equities research analysts have 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, DT Midstream currently has a consensus rating of "Hold" and an average price target of $84.78.

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.