DT Midstream, Inc. (NYSE:DTM) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in DT Midstream, Inc. (NYSE:DTM) by 35.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,597 shares of the company’s stock after purchasing an additional 681 shares during the quarter. GAMMA Investing LLC’s holdings in DT Midstream were worth $204,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Family Firm Inc. acquired a new position in shares of DT Midstream in the 2nd quarter valued at $26,000. First Command Advisory Services Inc. purchased a new stake in DT Midstream in the second quarter valued at $31,000. American National Bank boosted its stake in DT Midstream by 100.0% in the second quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after acquiring an additional 234 shares in the last quarter. Mather Group LLC. purchased a new position in shares of DT Midstream during the first quarter worth about $29,000. Finally, Rothschild Investment LLC acquired a new stake in shares of DT Midstream during the second quarter worth about $48,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTM has been the topic of several research analyst reports. Stifel Nicolaus lifted their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Citigroup lifted their target price 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. Wells Fargo & Company increased their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays lifted their price objective on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Finally, JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and an average price target of $73.00.

DT Midstream Stock Up 2.5 %

Shares of NYSE:DTM opened at $85.87 on Friday. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 20.69 and a beta of 0.74. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $85.91. The firm’s 50-day simple moving average is $77.29 and its 200-day simple moving average is $70.72. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million for the quarter, compared to analyst estimates of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter in the previous year, the company earned $0.93 EPS. As a group, equities research analysts predict that DT Midstream, Inc. will post 3.99 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s payout ratio is 70.84%.

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.