105,777 Shares in DT Midstream, Inc. (NYSE:DTM) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 105,777 shares of the company’s stock, valued at approximately $8,320,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTM. FMR LLC raised its stake in DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after acquiring an additional 754,839 shares in the last quarter. International Assets Investment Management LLC acquired a new position in DT Midstream in the third quarter valued at $39,166,000. Dimensional Fund Advisors LP increased its stake in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares during the period. Charles Schwab Investment Management Inc. increased its stake in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after purchasing an additional 267,269 shares during the period. Finally, AQR Capital Management LLC increased its stake in DT Midstream by 309.7% in the second quarter. AQR Capital Management LLC now owns 257,101 shares of the company’s stock valued at $18,262,000 after purchasing an additional 194,354 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Barclays lifted their target price on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, The Goldman Sachs Group lifted their target price on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $84.78.

DT Midstream Stock Down 1.3 %

DTM stock opened at $102.93 on Friday. The company has a market cap of $10.00 billion, a P/E ratio of 25.04 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $109.85. The company’s 50-day moving average price is $93.64 and its 200 day moving average price is $79.89. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the firm posted $0.94 EPS. On average, research analysts expect that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 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 2.86%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

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.