AQR Capital Management LLC Boosts Stake in DT Midstream, Inc. (NYSE:DTM)

AQR Capital Management LLC increased its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 18.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 503,390 shares of the company's stock after buying an additional 78,167 shares during the quarter. AQR Capital Management LLC owned about 0.52% of DT Midstream worth $50,052,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in DTM. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream during the 3rd quarter valued at about $29,000. Bessemer Group Inc. boosted its position in DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after buying an additional 117 shares during the last quarter. AdvisorNet Financial Inc increased its holdings in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC raised 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 buying an additional 163 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in 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 acquiring an additional 167 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DTM shares. Stifel Nicolaus reduced their target price on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Bank of America assumed coverage on DT Midstream in a report on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Finally, UBS Group raised their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $108.27.

DT Midstream Stock Performance

DTM opened at $97.79 on Friday. The company has a market cap of $9.93 billion, a price-to-earnings ratio of 23.79 and a beta of 0.77. The firm's fifty day simple moving average is $94.88 and its two-hundred day simple moving average is $98.33. 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 $61.94 and a 52-week high of $114.50.

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

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's dividend payout ratio is currently 91.11%.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost 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 represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.