Centiva Capital LP Acquires Shares of 3,749 DT Midstream, Inc. (NYSE:DTM)

Centiva Capital LP acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,749 shares of the company's stock, valued at approximately $373,000.

Other hedge funds have also bought and sold shares of the company. Blackstone Inc. increased its position in shares of DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after purchasing an additional 1,574,705 shares during the last quarter. Norges Bank purchased a new position in shares of DT Midstream during the 4th quarter valued at about $119,520,000. Bank of Montreal Can boosted its position in shares of DT Midstream by 733.3% in the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock worth $45,617,000 after purchasing an additional 403,730 shares during the period. Geode Capital Management LLC increased its stake in shares of DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after purchasing an additional 386,670 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after purchasing an additional 359,017 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DTM. Wells Fargo & Company cut their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Stifel Nicolaus decreased their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley upped their price target on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Finally, UBS Group increased their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Two 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. According to MarketBeat, DT Midstream currently has an average rating of "Hold" and an average price target of $108.27.

DT Midstream Price Performance

Shares of DTM traded up $0.94 during mid-day trading on Thursday, hitting $103.56. 509,382 shares of the stock were exchanged, compared to its average volume of 868,694. 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 company has a market cap of $10.52 billion, a PE ratio of 25.20 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $65.43 and a 52-week high of $114.50. The firm has a 50-day moving average of $96.34 and a two-hundred day moving average of $99.22.

DT Midstream (NYSE:DTM - Get Free Report) last released 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $288.81 million for the quarter, compared to analysts' expectations of $285.48 million. During the same period in the previous year, the company earned $0.99 EPS. On average, equities analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Monday, June 16th. DT Midstream's dividend payout ratio is 89.37%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were 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 in the company, valued at approximately $3,359,718.76. This trade represents a 2.66% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders acquired 1,235 shares of company stock valued at $109,867. Insiders own 0.34% of the company's stock.

DT Midstream Company 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.