Brookfield Corp ON Purchases 655,695 Shares of DT Midstream, Inc. (NYSE:DTM)

Brookfield Corp ON lifted its holdings in DT Midstream, Inc. (NYSE:DTM) by 171.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,038,501 shares of the company’s stock after purchasing an additional 655,695 shares during the period. DT Midstream accounts for approximately 0.5% of Brookfield Corp ON’s portfolio, making the stock its 28th biggest holding. Brookfield Corp ON’s holdings in DT Midstream were worth $81,689,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. UMB Bank n.a. lifted its holdings in shares of DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after buying an additional 240 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in DT Midstream during the 3rd quarter valued at $29,000. Family Firm Inc. bought a new stake in DT Midstream in the 2nd quarter valued at $26,000. First Command Advisory Services Inc. acquired a new stake in DT Midstream in the 2nd quarter worth $31,000. Finally, American National Bank raised its position in shares of DT Midstream by 100.0% during the second 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. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $102.93 on Friday. The business has a fifty day moving average of $93.64 and a 200-day moving average of $79.89. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $109.85. The firm has a market cap of $10.00 billion, a PE ratio of 25.04 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released 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 company had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same period last year, the company earned $0.94 earnings per share. On average, equities research analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is 71.53%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DTM. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Barclays upped their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Morgan Stanley lifted their target price on shares of DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus lowered shares of DT Midstream from a “buy” rating to a “hold” rating and increased their price target for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.78.

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.