Millennium Management LLC Purchases 11,281 Shares of DT Midstream, Inc. (NYSE:DTM)

Millennium Management LLC grew its holdings in DT Midstream, Inc. (NYSE:DTM) by 30.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 48,095 shares of the company’s stock after purchasing an additional 11,281 shares during the quarter. Millennium Management LLC’s holdings in DT Midstream were worth $3,416,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DTM. Family Firm Inc. bought a new position in shares of DT Midstream in the second quarter worth about $26,000. Mather Group LLC. bought a new position in DT Midstream in the 1st quarter worth approximately $29,000. First Command Advisory Services Inc. acquired a new position in DT Midstream during the 2nd quarter worth $31,000. American National Bank boosted its position in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of DT Midstream by 76.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after buying an additional 330 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DTM. Stifel Nicolaus upped their price target on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Barclays boosted their price target on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. Citigroup raised their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company upped their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.00.

DT Midstream Price Performance

Shares of DTM stock opened at $85.87 on Monday. 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, Inc. has a 12-month low of $51.17 and a 12-month high of $85.91. The firm has a fifty day moving average of $77.29 and a 200-day moving average of $70.88. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 20.69 and a beta of 0.74.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the prior year, the company earned $0.93 earnings per share. On average, equities research analysts forecast that DT Midstream, Inc. will post 3.99 earnings per share for the current year.

DT Midstream Dividend Announcement

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 dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Monday, September 16th. DT Midstream’s dividend payout ratio (DPR) is presently 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.