GAMMA Investing LLC Has $37.65 Million Stock Position in DT Midstream, Inc. (NYSE:DTM)

GAMMA Investing LLC lifted its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 9,693.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 390,262 shares of the company's stock after acquiring an additional 386,277 shares during the period. GAMMA Investing LLC owned 0.38% of DT Midstream worth $37,652,000 as of its most recent filing with the SEC.

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

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This 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 can be accessed through this link. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

DTM has been the subject of a number of recent analyst reports. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Stifel Nicolaus decreased their target price on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. UBS Group increased their target price on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Wells Fargo & Company decreased their target price on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Finally, Morgan Stanley set a $115.00 target price on shares of DT Midstream and gave the company an "underweight" rating in a research report on Tuesday. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream presently has an average rating of "Hold" and an average target price of $109.27.

DT Midstream Price Performance

Shares of NYSE:DTM traded up $0.07 during trading hours on Friday, hitting $108.23. 752,640 shares of the company's stock traded hands, compared to its average volume of 884,460. DT Midstream, Inc. has a 52 week low of $66.98 and a 52 week 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. The company's fifty day simple moving average is $99.31 and its two-hundred day simple moving average is $100.34. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 26.33 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $288.81 million during the quarter, compared to analysts' expectations 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 last year, the business earned $0.99 earnings per share. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders 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 dividend on an annualized basis and a yield of 3.03%. DT Midstream's payout ratio is presently 89.37%.

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.