BNP Paribas Financial Markets Invests $1.98 Million in DT Midstream, Inc. (NYSE:DTM)

BNP Paribas Financial Markets bought 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 SEC. The fund bought 19,936 shares of the company's stock, valued at approximately $1,982,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DTM. Truist Financial Corp bought a new position in shares of DT Midstream in the 4th quarter worth about $771,000. Thrivent Financial for Lutherans raised its position in shares of DT Midstream by 55.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock worth $3,536,000 after acquiring an additional 12,755 shares in the last quarter. UMB Bank n.a. raised its position in shares of DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after acquiring an additional 167 shares in the last quarter. Atria Investments Inc raised its position in shares of DT Midstream by 82.0% in the 4th quarter. Atria Investments Inc now owns 15,412 shares of the company's stock worth $1,532,000 after acquiring an additional 6,946 shares in the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of DT Midstream in the 4th quarter worth about $645,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Up 2.0%

DT Midstream stock traded up $2.00 during midday trading on Friday, reaching $104.09. The stock had a trading volume of 633,014 shares, compared to its average volume of 874,877. DT Midstream, Inc. has a 12 month low of $65.43 and a 12 month high of $114.50. The company has a market capitalization of $10.57 billion, a P/E ratio of 25.33 and a beta of 0.77. The company has a fifty day moving average price of $97.78 and a two-hundred day moving average price of $99.88. 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 issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the firm posted $0.99 earnings per share. As a group, equities analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, June 16th. DT Midstream's dividend payout ratio is currently 89.37%.

Analyst Ratings Changes

Several research firms have recently weighed in on DTM. UBS Group lifted their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Barclays lifted their price objective on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Williams Trading set a $110.00 price objective on DT Midstream in a research report on Monday, March 24th. Finally, Stifel Nicolaus decreased 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 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 stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $108.36.

Insiders Place Their Bets

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 stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, 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 purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 1,235 shares of company stock valued at $109,867. Corporate 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.