Squarepoint Ops LLC Purchases 46,527 Shares of DT Midstream, Inc. (NYSE:DTM)

Squarepoint Ops LLC increased its position in DT Midstream, Inc. (NYSE:DTM) by 1,273.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,182 shares of the company’s stock after buying an additional 46,527 shares during the period. Squarepoint Ops LLC owned 0.05% of DT Midstream worth $3,564,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. Family Firm Inc. purchased a new stake in shares of DT Midstream during the 2nd quarter worth approximately $26,000. Mather Group LLC. purchased a new stake in DT Midstream during the first quarter valued at $29,000. First Command Advisory Services Inc. bought a new position in DT Midstream during the second quarter valued at $31,000. ICA Group Wealth Management LLC purchased a new position in shares of DT Midstream in the 4th quarter worth $32,000. Finally, American National Bank increased its holdings in shares of DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after buying an additional 234 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Up 0.2 %

NYSE:DTM opened at $78.85 on Wednesday. The company has a market cap of $7.66 billion, a price-to-earnings ratio of 19.23 and a beta of 0.74. DT Midstream, Inc. has a twelve month low of $50.88 and a twelve month high of $79.73. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a fifty day simple moving average of $75.80 and a 200-day simple moving average of $69.49.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the previous year, the company earned $0.93 EPS. Analysts anticipate that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.73%. DT Midstream’s payout ratio is currently 71.71%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DTM. Stifel Nicolaus lifted their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Barclays increased their price target on DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Citigroup increased their target price on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and a consensus target price of $70.75.

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.