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

Man Group plc purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 10,045 shares of the company's stock, valued at approximately $999,000.

Several other hedge funds have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its holdings in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock worth $2,685,000 after purchasing an additional 100 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after acquiring an additional 100 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock valued at $1,235,000 after acquiring an additional 116 shares in the last quarter. Lakeshore Financial Planning Inc. raised its holdings in DT Midstream by 4.2% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock valued at $285,000 after acquiring an additional 116 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DTM. UBS Group boosted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Wells Fargo & Company dropped their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Raymond James increased their target price on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus dropped their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. 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. According to data from MarketBeat, DT Midstream currently has an average rating of "Hold" and a consensus price target of $108.36.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The stock was bought 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 owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 1,235 shares of company stock valued at $109,867 over the last ninety days. 0.34% of the stock is currently owned by insiders.

DT Midstream Trading Up 1.5%

NYSE DTM traded up $1.57 during trading hours on Tuesday, hitting $105.64. 743,573 shares of the company's stock were exchanged, compared to its average volume of 874,798. The stock has a 50-day simple moving average of $97.89 and a 200 day simple moving average of $99.97. The firm has a market cap of $10.73 billion, a price-to-earnings ratio of 25.70 and a beta of 0.77. 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, Inc. has a 1-year low of $65.45 and a 1-year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly 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 business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter last year, the business posted $0.99 earnings per share. On average, equities analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Monday, June 16th. DT Midstream's dividend payout ratio is currently 89.37%.

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.