DT Midstream, Inc. (NYSE:DTM) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 151.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 113,374 shares of the company's stock after buying an additional 68,350 shares during the quarter. Victory Capital Management Inc. owned 0.12% of DT Midstream worth $8,918,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in shares of DT Midstream in the 3rd quarter valued at approximately $39,166,000. Dimensional Fund Advisors LP lifted its position in DT Midstream by 12.6% during the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock valued at $312,070,000 after buying an additional 490,613 shares during the period. AQR Capital Management LLC boosted its holdings in shares of DT Midstream by 309.7% during the 2nd quarter. AQR Capital Management LLC now owns 257,101 shares of the company's stock valued at $18,262,000 after buying an additional 194,354 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in shares of DT Midstream by 2,658.2% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 182,121 shares of the company's stock worth $12,936,000 after buying an additional 175,518 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of DT Midstream in the 2nd quarter worth about $6,309,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

DTM has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an "overweight" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a research note on Friday, October 4th. Stifel Nicolaus cut DT Midstream from a "buy" rating to a "hold" rating and boosted their price target for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Barclays increased their price objective on DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Finally, Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $90.00 to $115.00 in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $84.78.

DT Midstream Stock Up 0.1 %

NYSE DTM traded up $0.15 on Friday, reaching $108.56. 902,818 shares of the stock traded hands, compared to its average volume of 668,697. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 26.41 and a beta of 0.71. The company has a fifty day moving average price of $88.36 and a 200-day moving average price of $77.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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 (EPS) 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 analysts' expectations of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the prior year, the business posted $0.94 earnings per share. As a group, research analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.71%. DT Midstream's dividend payout ratio (DPR) is presently 71.53%.

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.