Two Sigma Advisers LP Grows Position in DT Midstream, Inc. (NYSE:DTM)

Two Sigma Advisers LP grew its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 101.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 168,600 shares of the company's stock after acquiring an additional 84,800 shares during the quarter. Two Sigma Advisers LP owned 0.17% of DT Midstream worth $16,764,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the period. Deutsche Bank AG boosted its position in shares of DT Midstream by 5.5% in the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after acquiring an additional 147,790 shares during the period. Geode Capital Management LLC boosted its position in shares of DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock valued at $243,948,000 after acquiring an additional 386,670 shares during the period. Blackstone Inc. boosted its position in shares of DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after acquiring an additional 1,574,705 shares during the period. Finally, Invesco Ltd. boosted its position in shares of DT Midstream by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after acquiring an additional 294,583 shares during the period. Institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of DTM traded up $1.64 during mid-day trading on Tuesday, reaching $105.71. The company had a trading volume of 137,303 shares, compared to its average volume of 1,102,505. The company's 50 day simple moving average is $97.89 and its 200 day simple moving average is $99.97. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 25.72 and a beta of 0.77. DT Midstream, Inc. has a 1-year low of $65.44 and a 1-year high of $114.50. 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 (NYSE:DTM - Get Free Report) last released its quarterly 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 for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the previous year, the business posted $0.99 EPS. Analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on DTM. Morgan Stanley increased their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Bank of America began coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective on the stock. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research note on Monday, March 24th. Barclays increased their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Finally, UBS Group increased their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, DT Midstream currently has an average rating of "Hold" and a consensus price target of $108.36.

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 stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 1,235 shares of company stock worth $109,867 in the last quarter. 0.34% of the stock is owned by corporate insiders.

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.