Wellington Management Group LLP Purchases 100,825 Shares of DT Midstream, Inc. (NYSE:DTM)

Wellington Management Group LLP raised its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 225.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,556 shares of the company's stock after acquiring an additional 100,825 shares during the quarter. Wellington Management Group LLP owned about 0.15% of DT Midstream worth $11,449,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DTM. Dimensional Fund Advisors LP raised its stake in DT Midstream by 12.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company's stock worth $312,070,000 after purchasing an additional 490,613 shares in the last quarter. State Street Corp boosted its stake in shares of DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock valued at $268,757,000 after buying an additional 202,447 shares during the period. Bank of New York Mellon Corp grew its position in DT Midstream by 3.4% during the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company's stock worth $82,870,000 after buying an additional 38,305 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock worth $90,978,000 after acquiring an additional 267,269 shares during the period. Finally, Tortoise Capital Advisors L.L.C. raised its holdings in DT Midstream by 6.3% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company's stock valued at $72,737,000 after acquiring an additional 60,370 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Trading Down 0.6 %

Shares of DTM stock traded down $0.56 during mid-day trading on Monday, reaching $99.32. 696,775 shares of the stock traded hands, compared to its average volume of 680,375. The stock's fifty day simple moving average is $95.85 and its two-hundred day simple moving average is $81.52. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year 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 company has a market cap of $9.65 billion, a price-to-earnings ratio of 24.17 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last posted its 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 business 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 previous year, the firm earned $0.94 earnings per share. On average, research analysts anticipate that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream's dividend payout ratio is currently 71.53%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DTM shares. The Goldman Sachs Group increased their target price on DT Midstream from $66.00 to $74.00 and gave the stock a "sell" rating in a report on Tuesday, November 5th. 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 report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, Stifel Nicolaus downgraded shares of DT Midstream from a "buy" rating to a "hold" rating and boosted their price objective for the company from $78.00 to $89.00 in a research report on Wednesday, October 30th. 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 company's stock. According to data from MarketBeat, DT Midstream has an average rating of "Hold" and an average target price of $84.78.

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.