Bridgewater Advisors Inc. Invests $1.42 Million in DT Midstream, Inc. (NYSE:DTM)

Bridgewater Advisors Inc. bought a new position in DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,064 shares of the company’s stock, valued at approximately $1,421,000.

Other large investors have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in DT Midstream by 76.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after acquiring an additional 330 shares during the period. Capstone Investment Advisors LLC bought a new stake in shares of DT Midstream during the 1st quarter valued at about $284,000. Texas Permanent School Fund Corp increased its position in shares of DT Midstream by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 84,868 shares of the company’s stock valued at $5,185,000 after purchasing an additional 1,158 shares during the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of DT Midstream by 137.6% in the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after buying an additional 17,437 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of DT Midstream in the first quarter worth approximately $293,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Up 4.3 %

Shares of DTM stock opened at $96.16 on Thursday. The company has a market cap of $9.34 billion, a PE ratio of 23.40 and a beta of 0.71. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day simple moving average is $82.34 and its two-hundred day simple moving average is $74.09. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $96.67.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. Research analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 3.06%. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DTM shares. Citigroup upped their price target on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Barclays raised their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group increased their target price on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and lifted their target price for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $80.44.

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.