Victory Capital Management Inc. Raises Stake in DT Midstream, Inc. (NYSE:DTM)

Victory Capital Management Inc. grew its position in DT Midstream, Inc. (NYSE:DTM) by 151.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,374 shares of the company’s stock after acquiring an additional 68,350 shares during the period. Victory Capital Management Inc. owned about 0.12% of DT Midstream worth $8,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of 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 acquiring an additional 490,613 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of DT Midstream by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after buying an additional 38,305 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its position in DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock worth $72,737,000 after purchasing an additional 60,370 shares during the last quarter. International Assets Investment Management LLC acquired a new position in DT Midstream during the third quarter worth approximately $39,166,000. Finally, Chickasaw Capital Management LLC grew its stake in DT Midstream by 24.5% during the third quarter. Chickasaw Capital Management LLC now owns 302,600 shares of the company’s stock worth $23,803,000 after buying an additional 59,540 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 5.4 %

DT Midstream stock opened at $108.31 on Friday. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of 26.35 and a beta of 0.71. The company’s fifty day moving average price is $87.72 and its two-hundred day moving average price is $76.89. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $108.56. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (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 business 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 business posted $0.94 earnings per share. On average, analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share 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. Investors of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $115.00 in a research note on Thursday. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and raised their price target for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective 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 increased their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Barclays increased their price objective on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and an average 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.