Hanlon Investment Management Inc. Takes $537,000 Position in DT Midstream, Inc. (NYSE:DTM)

Hanlon Investment Management Inc. purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 6,828 shares of the company’s stock, valued at approximately $537,000.

Several other hedge funds also recently modified their holdings of the company. Asset Management One Co. Ltd. grew its holdings in shares of DT Midstream by 5.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 9,719 shares of the company’s stock worth $764,000 after acquiring an additional 470 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of DT Midstream by 18.6% in the 3rd quarter. Van ECK Associates Corp now owns 33,239 shares of the company’s stock worth $2,898,000 after acquiring an additional 5,208 shares during the last quarter. Princeton Global Asset Management LLC grew its holdings in shares of DT Midstream by 8.6% in the 3rd quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock worth $199,000 after acquiring an additional 200 shares during the last quarter. FSA Advisors Inc. grew its holdings in shares of DT Midstream by 7.7% in the 3rd quarter. FSA Advisors Inc. now owns 4,609 shares of the company’s stock worth $360,000 after acquiring an additional 328 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its holdings in shares of DT Midstream by 1.9% in the 3rd quarter. State of Alaska Department of Revenue now owns 42,060 shares of the company’s stock worth $3,307,000 after acquiring an additional 765 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Morgan Stanley lifted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and lifted their price target for the company from $78.00 to $89.00 in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Barclays lifted their price target on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $81.25.

DT Midstream Price Performance

DTM opened at $89.87 on Tuesday. The stock has a market cap of $8.73 billion, a price-to-earnings ratio of 21.87 and a beta of 0.71. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $91.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a fifty day moving average price of $81.64 and a 200 day moving average price of $73.73.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the prior year, the firm earned $0.94 EPS. Analysts forecast that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.27%. 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.