Capital Fund Management S.A. Takes $1.92 Million Position in DT Midstream, Inc. (NYSE:DTM)

Capital Fund Management S.A. purchased a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,321 shares of the company's stock, valued at approximately $1,921,000.

Several other institutional investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream during the 3rd quarter valued at $29,000. Bessemer Group Inc. lifted its holdings in DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc increased its stake in shares of DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its position in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares during the period. Finally, UMB Bank n.a. lifted its stake in shares of DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus lowered their target price on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. US Capital Advisors raised DT Midstream from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. UBS Group lifted their target price on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Finally, Wells Fargo & Company reduced their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $104.67.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company's stock.

DT Midstream Price Performance

Shares of NYSE DTM traded up $1.28 during mid-day trading on Friday, reaching $96.84. 887,944 shares of the company were exchanged, compared to its average volume of 850,493. The stock has a market capitalization of $9.84 billion, a PE ratio of 23.56 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. The company's 50 day moving average price is $95.35 and its 200 day moving average price is $97.72.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were issued a $0.82 dividend. This is a boost from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date was Monday, March 17th. DT Midstream's dividend payout ratio is presently 91.11%.

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.