DT Midstream, Inc. (NYSE:DTM) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its position in DT Midstream, Inc. (NYSE:DTM) by 89.4% during the second quarter, Holdings Channel reports. The fund owned 45,024 shares of the company’s stock after purchasing an additional 21,252 shares during the quarter. Victory Capital Management Inc.’s holdings in DT Midstream were worth $3,198,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Jackson Creek Investment Advisors LLC acquired a new stake in shares of DT Midstream in the 2nd quarter worth about $538,000. CIBC Asset Management Inc acquired a new stake in shares of DT Midstream in the 2nd quarter worth about $202,000. FSA Advisors Inc. acquired a new stake in shares of DT Midstream in the 2nd quarter worth about $300,000. Natixis Advisors LLC increased its holdings in shares of DT Midstream by 17.3% in the 2nd quarter. Natixis Advisors LLC now owns 22,212 shares of the company’s stock worth $1,578,000 after acquiring an additional 3,270 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of DT Midstream by 7.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 41,215 shares of the company’s stock worth $2,928,000 after acquiring an additional 2,752 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

DTM has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Stifel Nicolaus raised their target price on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays raised their target price on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Finally, Citigroup lifted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $70.75.

DT Midstream Stock Performance

Shares of DTM opened at $77.26 on Tuesday. DT Midstream, Inc. has a one year low of $50.88 and a one year high of $78.83. The company has a 50-day moving average of $74.45 and a two-hundred day moving average of $67.93. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 18.84 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same period last year, the company posted $0.93 earnings per share. On average, equities research analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

DT Midstream Company 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.