Navellier & Associates Inc. Takes Position in DT Midstream, Inc. (NYSE:DTM)

Navellier & Associates Inc. bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,748 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of DT Midstream by 225.4% during the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after purchasing an additional 100,825 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of DT Midstream during the fourth quarter valued at $764,000. Atria Investments Inc purchased a new stake in shares of DT Midstream during the third quarter valued at $666,000. Bridgewater Associates LP lifted its holdings in shares of DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after purchasing an additional 67,725 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Down 1.3 %

DTM opened at $98.71 on Monday. DT Midstream, Inc. has a fifty-two week low of $55.98 and a fifty-two week high of $114.50. The business has a 50-day moving average of $102.95 and a 200-day moving average of $92.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $9.59 billion, a PE ratio of 24.02 and a beta of 0.79.

Analysts Set New Price Targets

Several brokerages have recently commented on DTM. Barclays assumed coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price for the company. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and increased their price objective for the stock from $89.00 to $106.00 in a research note on Thursday, December 19th. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group increased their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Finally, Raymond James increased their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $101.56.

DT Midstream Company 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.