Bridgewater Advisors Inc. Sells 525 Shares of DT Midstream, Inc. (NYSE:DTM)

Bridgewater Advisors Inc. trimmed its position in DT Midstream, Inc. (NYSE:DTM) by 3.1% during the first quarter, HoldingsChannel reports. The institutional investor owned 16,567 shares of the company’s stock after selling 525 shares during the period. Bridgewater Advisors Inc.’s holdings in DT Midstream were worth $1,632,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DTM. Alpine Bank Wealth Management bought a new position in DT Midstream in the first quarter valued at about $26,000. Bessemer Group Inc. lifted its stake in DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares during the period. Versant Capital Management Inc raised its stake in DT Midstream by 130.2% in the first quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock worth $47,000 after buying an additional 276 shares in the last quarter. UMB Bank n.a. raised its holdings in DT Midstream by 50.3% in the first quarter. UMB Bank n.a. now owns 723 shares of the company’s stock worth $70,000 after purchasing an additional 242 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in DT Midstream by 15.0% in the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of recent analyst reports. Bank of America initiated coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research note on Monday, March 24th. Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the stock an “underweight” rating in a research note on Tuesday, June 3rd. US Capital Advisors cut shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Barclays lifted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has an average rating of “Hold” and an average price target of $109.27.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $105.13 on Tuesday. The stock’s 50 day moving average price is $104.82 and its 200 day moving average price is $100.93. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 1.65 and a beta of 0.78. DT Midstream, Inc. has a 12 month low of $69.82 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82.

DT Midstream (NYSE:DTM) last announced its earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. During the same quarter last year, the business earned $0.99 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.12%. DT Midstream’s dividend payout ratio (DPR) is presently 89.37%.

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.