DT Midstream, Inc. $DTM Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Boosts Stake

VIRGINIA RETIREMENT SYSTEMS ET Al raised its position in shares of DT Midstream, Inc. (NYSE:DTM) by 92.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,700 shares of the company’s stock after buying an additional 6,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in DT Midstream were worth $1,517,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of DT Midstream by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 892,353 shares of the company’s stock worth $120,173,000 after buying an additional 3,689 shares during the period. Chickasaw Capital Management LLC lifted its position in DT Midstream by 38.0% during the 3rd quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock valued at $62,430,000 after acquiring an additional 143,766 shares during the period. Energy Income Partners LLC lifted its position in DT Midstream by 1.0% during the 1st quarter. Energy Income Partners LLC now owns 429,858 shares of the company’s stock valued at $57,889,000 after acquiring an additional 4,189 shares during the period. Recurrent Investment Advisors LLC lifted its position in DT Midstream by 0.4% during the 1st quarter. Recurrent Investment Advisors LLC now owns 355,156 shares of the company’s stock valued at $47,829,000 after acquiring an additional 1,370 shares during the period. Finally, First Trust Advisors LP boosted its stake in DT Midstream by 5.7% during the first quarter. First Trust Advisors LP now owns 350,989 shares of the company’s stock worth $47,268,000 after acquiring an additional 18,843 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $117.31 on Thursday. The business has a fifty day moving average price of $125.30 and a 200-day moving average price of $134.65. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $11.97 billion, a PE ratio of 25.50, a PEG ratio of 1.72 and a beta of 0.73. DT Midstream, Inc. has a 1-year low of $109.12 and a 1-year high of $152.88.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The company had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $337.63 million. DT Midstream had a net margin of 35.36% and a return on equity of 9.59%. During the same quarter in the previous year, the business posted $1.13 EPS. As a group, equities analysts expect that DT Midstream, Inc. will post 4.64 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, December 15th. DT Midstream’s dividend payout ratio (DPR) is currently 76.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of DT Midstream from $165.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Scotiabank decreased their target price on shares of DT Midstream from $165.00 to $161.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Barclays lowered their target price on shares of DT Midstream from $143.00 to $142.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Jefferies Financial Group reissued a “buy” rating and issued a $150.00 price target on shares of DT Midstream in a research report on Thursday, October 15th. Finally, Wolfe Research upgraded DT Midstream from a “peer perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a research note on Wednesday, August 26th. Ten equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

DT Midstream Company Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.