Algert Global LLC Makes New $1.17 Million Investment in DT Midstream, Inc. (NYSE:DTM)

Algert Global LLC acquired a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,780 shares of the company's stock, valued at approximately $1,171,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Freestone Grove Partners LP acquired a new stake in DT Midstream in the 4th quarter valued at approximately $9,413,000. PDT Partners LLC acquired a new position in shares of DT Midstream in the fourth quarter valued at approximately $4,030,000. AQR Capital Management LLC increased its position in shares of DT Midstream by 18.4% during the fourth quarter. AQR Capital Management LLC now owns 503,390 shares of the company's stock worth $50,052,000 after acquiring an additional 78,167 shares during the period. Northern Trust Corp grew its stake in DT Midstream by 37.7% during the 4th quarter. Northern Trust Corp now owns 1,062,397 shares of the company's stock worth $105,634,000 after purchasing an additional 291,039 shares in the last quarter. Finally, Beacon Pointe Advisors LLC purchased a new stake in DT Midstream during the 4th quarter worth about $293,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DTM shares. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Wells Fargo & Company dropped their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Bank of America began coverage on DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective for the company. Morgan Stanley increased their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. raised their price target on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $108.27.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, March 10th. The shares were acquired 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 directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders acquired a total of 1,235 shares of company stock valued at $109,867 over the last three months. Corporate insiders own 0.34% of the company's stock.

DT Midstream Stock Up 2.3%

Shares of DT Midstream stock traded up $2.29 during trading on Tuesday, reaching $102.46. The stock had a trading volume of 940,417 shares, compared to its average volume of 869,044. The company has a market capitalization of $10.41 billion, a price-to-earnings ratio of 24.93 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $64.56 and a 52 week high of $114.50. The stock has a fifty day moving average price of $96.05 and a two-hundred day moving average price of $99.20. 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 (NYSE:DTM - Get Free Report) last released its earnings results 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 company had revenue of $288.81 million for the quarter, compared to the consensus estimate 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 company posted $0.99 earnings per share. Sell-side analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Monday, June 16th. DT Midstream's dividend payout ratio is 89.37%.

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.