Blackstone Inc. Purchases 1,574,705 Shares of DT Midstream, Inc. (NYSE:DTM)

Blackstone Inc. raised its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2,783.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,631,285 shares of the company's stock after purchasing an additional 1,574,705 shares during the quarter. DT Midstream accounts for 0.7% of Blackstone Inc.'s portfolio, making the stock its 23rd biggest position. Blackstone Inc. owned 1.68% of DT Midstream worth $162,199,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in DTM. Barclays PLC raised its holdings in DT Midstream by 3.7% during the 3rd quarter. Barclays PLC now owns 283,363 shares of the company's stock valued at $22,289,000 after buying an additional 10,074 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream during the third quarter valued at about $29,000. GAMMA Investing LLC grew its stake in shares of DT Midstream by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 3,985 shares of the company's stock worth $396,000 after purchasing an additional 1,388 shares during the last quarter. Advance Capital Management Inc. purchased a new position in DT Midstream during the 4th quarter valued at about $296,000. Finally, Chickasaw Capital Management LLC lifted its holdings in DT Midstream by 4.8% in the 4th quarter. Chickasaw Capital Management LLC now owns 317,231 shares of the company's stock worth $31,542,000 after buying an additional 14,631 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

DTM has been the subject of a number of recent analyst reports. Bank of America initiated coverage on DT Midstream in a report on Monday, March 24th. They set a "buy" rating and a $110.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Morgan Stanley boosted their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research report on Tuesday, March 25th. Stifel Nicolaus lowered their price objective 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. Finally, Barclays decreased their target price on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus price target of $108.27.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. bought 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 purchase, the director now owns 38,653 shares of the company's stock, valued at approximately $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 accessible through this link. 0.34% of the stock is owned by company insiders.

DT Midstream Stock Up 1.0 %

DT Midstream stock traded up $1.02 during mid-day trading on Wednesday, hitting $101.46. The company had a trading volume of 1,201,769 shares, compared to its average volume of 863,679. DT Midstream, Inc. has a 12 month low of $63.82 and a 12 month high of $114.50. The company has a market capitalization of $10.31 billion, a PE ratio of 24.69 and a beta of 0.77. The stock's 50 day moving average price is $95.39 and its two-hundred day moving average price is $98.74. 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 announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) 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 the consensus estimate of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the firm earned $0.99 EPS. As a group, sell-side 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 issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.23%. DT Midstream's payout ratio is currently 89.37%.

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.