Dark Forest Capital Management LP Acquires 5,245 Shares of DT Midstream, Inc. (NYSE:DTM)

Dark Forest Capital Management LP boosted its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 161.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,490 shares of the company's stock after purchasing an additional 5,245 shares during the quarter. Dark Forest Capital Management LP's holdings in DT Midstream were worth $844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Quantessence Capital LLC bought a new stake in DT Midstream during the fourth quarter valued at $680,000. Harvest Investment Services LLC purchased a new position in shares of DT Midstream during the fourth quarter worth about $466,000. Yaupon Capital Management LP purchased a new stake in DT Midstream in the fourth quarter valued at approximately $20,122,000. MetLife Investment Management LLC grew its stake in DT Midstream by 9.1% in the 4th quarter. MetLife Investment Management LLC now owns 54,767 shares of the company's stock worth $5,445,000 after buying an additional 4,576 shares in the last quarter. Finally, Forum Financial Management LP increased its holdings in shares of DT Midstream by 5.1% in the 4th quarter. Forum Financial Management LP now owns 3,391 shares of the company's stock worth $337,000 after buying an additional 165 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of research reports. Williams Trading set a $110.00 price target on DT Midstream in a research report on Monday, March 24th. Stifel Nicolaus cut their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Wells Fargo & Company lowered their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, UBS Group raised 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $108.27.

DT Midstream Trading Down 2.0 %

NYSE DTM traded down $1.97 on Wednesday, hitting $96.57. The company's stock had a trading volume of 385,418 shares, compared to its average volume of 849,179. The firm has a market cap of $9.81 billion, a P/E ratio of 23.48 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $61.01 and a 52-week high of $114.50. The company's 50-day simple moving average is $94.88 and its 200 day simple moving average is $98.26. 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 quarterly earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the prior year, the firm posted $0.99 earnings per share. Research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.40%. DT Midstream's dividend payout ratio (DPR) is 91.11%.

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.