Freestone Grove Partners LP Takes Position in DT Midstream, Inc. (NYSE:DTM)

Freestone Grove Partners LP bought a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 94,669 shares of the company's stock, valued at approximately $9,413,000. Freestone Grove Partners LP owned approximately 0.10% of DT Midstream as of its most recent SEC filing.

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

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.34% of the company's stock.

DT Midstream Trading Up 3.1 %

Shares of DTM traded up $3.00 during midday trading on Friday, hitting $100.80. 957,872 shares of the stock were exchanged, compared to its average volume of 858,236. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $10.24 billion, a P/E ratio of 24.53 and a beta of 0.77. The stock has a fifty day simple moving average of $94.98 and a 200 day simple moving average of $98.60. DT Midstream, Inc. has a 52-week low of $62.90 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The firm had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the previous year, the business posted $0.99 earnings per share. On average, research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.25%. DT Midstream's payout ratio is 91.11%.

Wall Street Analyst Weigh In

DTM has been the topic of a number of analyst reports. Stifel Nicolaus dropped their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group increased their price objective on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Raymond James lifted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Finally, Williams Trading set a $110.00 target price on shares of DT Midstream in a research report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $108.27.

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.