Point72 Asset Management L.P. Grows Stake in DT Midstream, Inc. (NYSE:DTM)

Point72 Asset Management L.P. raised its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 287.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 410,332 shares of the company's stock after purchasing an additional 304,555 shares during the period. Point72 Asset Management L.P. owned 0.42% of DT Midstream worth $40,799,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DTM. Barclays PLC lifted its position in shares of 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 in the last quarter. AdvisorNet Financial Inc raised its stake in DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after acquiring an additional 160 shares during the period. Ritholtz Wealth Management bought a new stake in DT Midstream during the 4th quarter worth approximately $201,000. Hennessy Advisors Inc. lifted its holdings in DT Midstream by 6.3% during the fourth quarter. Hennessy Advisors Inc. now owns 176,300 shares of the company's stock valued at $17,530,000 after purchasing an additional 10,400 shares in the last quarter. Finally, Merit Financial Group LLC bought a new position in shares of DT Midstream in the fourth quarter worth approximately $458,000. Institutional investors own 81.53% of the company's stock.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The shares were bought 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 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 legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders bought 1,235 shares of company stock worth $109,867. 0.34% of the stock is currently owned by insiders.

DT Midstream Price Performance

Shares of DTM traded down $0.41 during midday trading on Monday, hitting $103.56. 444,508 shares of the company traded hands, compared to its average volume of 871,611. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 25.20 and a beta of 0.77. The firm has a 50 day moving average of $96.96 and a 200-day moving average of $99.56. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a 52 week low of $65.43 and a 52 week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $285.48 million. During the same quarter in the prior year, the firm posted $0.99 earnings per share. On average, analysts forecast 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. Stockholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.17%. DT Midstream's dividend payout ratio (DPR) is 89.37%.

Analysts Set New Price Targets

Several brokerages have recently commented on DTM. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Stifel Nicolaus cut their price target 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. Bank of America initiated coverage on DT Midstream in a report on Monday, March 24th. They set a "buy" rating and a $110.00 price target on the stock. Morgan Stanley boosted their price objective on DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research report on Tuesday, March 25th. Finally, US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $108.27.

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.