Tidal Investments LLC grew its position in shares of DT Midstream, Inc. (NYSE:DTM – Free Report) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 61,582 shares of the company’s stock after acquiring an additional 3,972 shares during the quarter. Tidal Investments LLC’s holdings in DT Midstream were worth $9,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently modified their holdings of the company. Western Wealth Management LLC purchased a new stake in shares of DT Midstream in the 1st quarter worth $32,000. Continuum Advisory LLC purchased a new position in shares of DT Midstream in the second quarter worth $36,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in DT Midstream in the 4th quarter worth $30,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of DT Midstream in the fourth quarter worth about $36,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of DT Midstream during the 1st quarter worth approximately $41,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
DT Midstream Stock Performance
NYSE:DTM opened at $129.05 on Friday. The stock’s fifty day moving average is $136.42 and its 200 day moving average is $139.02. DT Midstream, Inc. has a fifty-two week low of $104.25 and a fifty-two week high of $152.88. The firm has a market capitalization of $13.16 billion, a PE ratio of 28.24, a PEG ratio of 3.58 and a beta of 0.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.37 and a current ratio of 1.37.
DT Midstream Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. DT Midstream’s payout ratio is currently 77.02%.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on DTM shares. Weiss Ratings lowered shares of DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $146.00 to $154.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Scotiabank lowered their price objective on shares of DT Midstream from $176.00 to $168.00 and set a “sector outperform” rating for the company in a research report on Thursday. Mizuho lowered their price objective on shares of DT Midstream from $153.00 to $147.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Finally, Morgan Stanley raised shares of DT Midstream from an “equal weight” rating to an “overweight” rating and set a $170.00 price objective for the company in a research note on Wednesday. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.86.
Read Our Latest Research Report on DT Midstream
About DT Midstream
DT Midstream, Inc (NYSE: DTM) is an independent energy infrastructure company that develops, owns and operates natural gas transportation, storage and gathering assets. Its business is primarily supported by long-term, fee-based agreements that connect natural gas producers, utilities, power generators and other customers to major markets.
The company’s operations include interstate and intrastate pipeline systems, natural gas gathering networks and storage facilities. Its portfolio includes assets such as the Blue Union and Guardian pipeline systems, Midwestern Gas Transmission, and other infrastructure serving production and consumption areas in the Midwestern and Southern United States, including the Gulf Coast and Haynesville region.
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