Man Group plc Buys New Position in DT Midstream, Inc. (NYSE:DTM)

Man Group plc acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,045 shares of the company's stock, valued at approximately $999,000.

Several other large investors have also recently added to or reduced their stakes in DTM. Bessemer Group Inc. grew its stake in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. UMB Bank n.a. grew its stake in shares of DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after purchasing an additional 167 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of DT Midstream during the fourth quarter valued at approximately $50,000. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of DT Midstream by 38.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company's stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DTM has been the topic of several analyst reports. 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. Williams Trading set a $110.00 price objective on shares of DT Midstream in a report on Monday, March 24th. Morgan Stanley increased their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday, March 25th. Wells Fargo & Company cut their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Finally, Bank of America assumed coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $108.36.

DT Midstream Stock Down 1.4%

Shares of DT Midstream stock traded down $1.49 during trading on Thursday, reaching $103.41. 83,031 shares of the company traded hands, compared to its average volume of 1,094,897. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day moving average price of $98.17 and a 200-day moving average price of $100.04. DT Midstream, Inc. has a 1-year low of $65.44 and a 1-year high of $114.50. The firm has a market capitalization of $10.51 billion, a PE ratio of 25.16 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results 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 the consensus estimate of $285.48 million. During the same quarter in the previous year, the company earned $0.99 EPS. As a group, equities research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

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

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. This trade represents a 2.66% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders acquired 1,235 shares of company stock worth $109,867 over the last quarter. 0.34% of the stock is currently owned by company insiders.

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.