Lindbrook Capital LLC Boosts Stake in DT Midstream, Inc. (NYSE:DTM)

Lindbrook Capital LLC raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 49.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,556 shares of the company’s stock after buying an additional 4,510 shares during the period. Lindbrook Capital LLC’s holdings in DT Midstream were worth $1,066,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Executive Wealth Management LLC lifted its stake in shares of DT Midstream by 14.7% during the 3rd quarter. Executive Wealth Management LLC now owns 10,563 shares of the company’s stock worth $831,000 after acquiring an additional 1,356 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in shares of DT Midstream during the third quarter worth $372,000. Bridgewater Advisors Inc. bought a new stake in shares of DT Midstream during the third quarter worth $1,421,000. Fractal Investments LLC boosted its stake in shares of DT Midstream by 4.5% during the third quarter. Fractal Investments LLC now owns 34,900 shares of the company’s stock valued at $2,745,000 after purchasing an additional 1,510 shares during the period. Finally, Hanlon Investment Management Inc. bought a new position in shares of DT Midstream in the third quarter worth about $537,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 0.9 %

DTM opened at $97.89 on Friday. 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 firm has a market cap of $9.51 billion, a price-to-earnings ratio of 23.82 and a beta of 0.71. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $98.14. The stock has a fifty day moving average price of $83.11 and a 200-day moving average price of $74.57.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million during 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 quarter in the prior year, the firm posted $0.94 earnings per share. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.00%. DT Midstream’s payout ratio is 71.53%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DTM shares. Citigroup lifted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company upped their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $80.44.

DT Midstream 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.