Van ECK Associates Corp Has $2.90 Million Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Van ECK Associates Corp boosted its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 18.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,239 shares of the company's stock after acquiring an additional 5,208 shares during the period. Van ECK Associates Corp's holdings in DT Midstream were worth $2,898,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in shares of DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company's stock valued at $25,000 after acquiring an additional 240 shares during the period. Family Firm Inc. acquired a new position in DT Midstream during the 2nd quarter valued at about $26,000. V Square Quantitative Management LLC bought a new position in DT Midstream in the 3rd quarter worth about $29,000. First Command Advisory Services Inc. acquired a new stake in shares of DT Midstream in the second quarter valued at approximately $31,000. Finally, American National Bank raised its holdings in shares of DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company's stock valued at $33,000 after buying an additional 234 shares during the last quarter. Institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

DTM stock traded up $1.93 on Monday, hitting $99.82. 698,064 shares of the company's stock traded hands, compared to its average volume of 647,202. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 23.82 and a beta of 0.71. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $100.97. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average of $83.11 and a 200-day moving average of $74.64.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the business earned $0.94 earnings per share. On average, analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.95%. DT Midstream's payout ratio is presently 71.53%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DTM. Morgan Stanley increased their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an "underweight" rating in a report on Friday, October 25th. The Goldman Sachs Group raised their price target on DT Midstream from $66.00 to $74.00 and gave the company a "sell" rating in a report on Tuesday, November 5th. Citigroup upped 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 raised their target price on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Finally, Stifel Nicolaus lowered shares of DT Midstream from a "buy" rating to a "hold" rating and upped their price target for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, DT Midstream currently has an average rating of "Hold" and an average target price of $80.44.

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.