Cinctive Capital Management LP Makes New $4.43 Million Investment in DT Midstream, Inc. $DTM

Key Points

• Cinctive Capital Management has made a new investment of $4.43 million in DT Midstream, purchasing 45,890 shares.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, representing an annualized yield of 3.1%.
• Analysts have raised their price targets for DT Midstream, with a consensus price target now at $110.67 and a consensus rating of "Hold."

Cinctive Capital Management LP purchased a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 45,890 shares of the company's stock, valued at approximately $4,427,000.

Several other institutional investors and hedge funds have also bought and sold shares of DTM. CWM LLC increased its position in shares of DT Midstream by 18.9% in the first quarter. CWM LLC now owns 4,201 shares of the company's stock worth $405,000 after purchasing an additional 669 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of DT Midstream in the first quarter worth about $274,000. Bessemer Group Inc. increased its stake in DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after buying an additional 135 shares during the period. True Link Financial Advisors LLC acquired a new stake in shares of DT Midstream in the 1st quarter valued at $238,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of DT Midstream by 10.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock worth $13,896,000 after buying an additional 13,243 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DTM shares. Stifel Nicolaus increased their target price on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their target price on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Mizuho boosted their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Barclays increased their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley lifted their price target on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $110.67.

DT Midstream Stock Up 0.8%

NYSE DTM traded up $0.82 during trading hours on Tuesday, reaching $105.35. 235,353 shares of the company's stock were exchanged, compared to its average volume of 978,629. DT Midstream, Inc. has a one year low of $73.52 and a one year high of $114.50. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77. The company's 50-day moving average is $103.18 and its two-hundred day moving average is $100.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same period in the previous year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. DT Midstream's dividend payout ratio is presently 87.94%.

Insider Activity at DT Midstream

In related news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the transaction, the vice president directly owned 5,171 shares of the company's stock, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by corporate 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.