Brookfield Corp ON Boosts Stake in DT Midstream, Inc. (NYSE:DTM)

Brookfield Corp ON increased its holdings in DT Midstream, Inc. (NYSE:DTM) by 171.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,038,501 shares of the company’s stock after acquiring an additional 655,695 shares during the quarter. DT Midstream makes up 0.5% of Brookfield Corp ON’s portfolio, making the stock its 28th biggest position. Brookfield Corp ON owned 1.07% of DT Midstream worth $81,689,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. grew its position 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 in the last quarter. Family Firm Inc. acquired a new position in DT Midstream during the 2nd quarter worth $26,000. V Square Quantitative Management LLC bought a new stake in shares of DT Midstream in the 3rd quarter worth about $29,000. First Command Advisory Services Inc. bought a new position in DT Midstream during the 2nd quarter worth approximately $31,000. Finally, American National Bank lifted 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 purchasing an additional 234 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on DTM shares. Barclays lifted their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. The Goldman Sachs Group boosted their price target on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. Finally, Morgan Stanley increased 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. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $84.78.

DT Midstream Price Performance

DTM stock opened at $102.93 on Friday. The firm has a 50-day moving average of $93.64 and a two-hundred day moving average of $79.89. The firm has a market capitalization of $10.00 billion, a PE ratio of 25.04 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $109.85.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The business had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

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

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.