Brown Brothers Harriman & Co. Buys Shares of 7,165 DT Midstream, Inc. (NYSE:DTM)

Brown Brothers Harriman & Co. purchased a new position in DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,165 shares of the company’s stock, valued at approximately $564,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Atria Investments Inc bought a new position in DT Midstream in the third quarter worth about $666,000. Cetera Investment Advisers raised its stake in shares of DT Midstream by 1,223.2% during the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock worth $3,306,000 after acquiring an additional 50,018 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in DT Midstream by 15.3% during the second quarter. Envestnet Asset Management Inc. now owns 121,876 shares of the company’s stock valued at $8,657,000 after acquiring an additional 16,171 shares during the last quarter. GSA Capital Partners LLP lifted its position in DT Midstream by 31.9% during the third quarter. GSA Capital Partners LLP now owns 27,209 shares of the company’s stock valued at $2,140,000 after acquiring an additional 6,575 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in DT Midstream by 151.8% in the third quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock valued at $8,918,000 after acquiring an additional 68,350 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

DTM opened at $106.75 on Wednesday. The firm has a 50 day moving average of $88.93 and a two-hundred day moving average of $77.67. The firm has a market capitalization of $10.37 billion, a PE ratio of 25.97 and a beta of 0.71. 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 12-month low of $51.17 and a 12-month high of $109.85.

DT Midstream (NYSE:DTM) last issued its 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 return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. During the same period last year, the business earned $0.94 EPS. On average, analysts anticipate that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.75%. DT Midstream’s payout ratio is 71.53%.

Analyst Ratings Changes

Several brokerages have recently commented on DTM. The Goldman Sachs Group increased their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. 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. upped their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. Morgan Stanley lifted their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, Wells Fargo & Company upped their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.78.

DT Midstream 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.