M1 Capital Management LLC Acquires New Holdings in DT Midstream, Inc. (NYSE:DTM)

M1 Capital Management LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,066 shares of the company's stock, valued at approximately $404,000.

A number of other institutional investors have also added to or reduced their stakes in DTM. Blackstone Inc. lifted its stake in shares of DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the last quarter. Norges Bank bought a new position in DT Midstream in the fourth quarter worth about $119,520,000. Zimmer Partners LP purchased a new stake in shares of DT Midstream during the fourth quarter valued at about $74,572,000. Westwood Holdings Group Inc. lifted its position in shares of DT Midstream by 108.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after buying an additional 564,899 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of DT Midstream by 733.3% in the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock valued at $45,617,000 after buying an additional 403,730 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. US Capital Advisors cut shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. UBS Group upped their price target on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Finally, Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, DT Midstream currently has an average rating of "Hold" and a consensus target price of $108.36.

DT Midstream Trading Up 0.8%

DTM stock opened at $104.73 on Monday. The firm has a market cap of $10.64 billion, a P/E ratio of 25.48 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $66.37 and a 52-week high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company's 50-day simple moving average is $98.31 and its 200-day simple moving average is $100.12.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share 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 company had revenue of $288.81 million for the quarter, compared to analysts' expectations of $285.48 million. During the same period in the prior year, the company posted $0.99 EPS. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, June 16th. DT Midstream's payout ratio is 89.37%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. The trade was a 2.66% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

About DT Midstream

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.