Millburn Ridgefield Corp Acquires New Position in DT Midstream, Inc. (NYSE:DTM)

Millburn Ridgefield Corp bought a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,882 shares of the company’s stock, valued at approximately $148,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. Jacobs Levy Equity Management Inc. acquired a new stake in shares of DT Midstream in the 3rd quarter worth approximately $327,000. Captrust Financial Advisors boosted its position in DT Midstream by 5.7% during the third quarter. Captrust Financial Advisors now owns 5,698 shares of the company’s stock worth $448,000 after purchasing an additional 309 shares in the last quarter. Walleye Capital LLC acquired a new stake in DT Midstream in the third quarter valued at $285,000. Infrastructure Capital Advisors LLC purchased a new position in shares of DT Midstream in the third quarter valued at $1,966,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of DT Midstream by 3.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,200 shares of the company’s stock worth $18,973,000 after buying an additional 7,956 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Stifel Nicolaus cut shares of 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 note on Wednesday, October 30th. JPMorgan Chase & Co. upped 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. Wells Fargo & Company raised their price target on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Morgan Stanley boosted their price target on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.78.

DT Midstream Stock Performance

NYSE DTM opened at $102.76 on Wednesday. The business’s 50-day moving average price is $91.69 and its 200 day moving average price is $79.06. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85. The company has a market capitalization of $9.98 billion, a PE ratio of 25.00 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) 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 company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the business posted $0.94 earnings per share. On average, research analysts predict that DT Midstream, Inc. will post 3.85 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 2.86%. DT Midstream’s payout ratio is 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.