100,000 Shares in DT Midstream, Inc. (NYSE:DTM) Purchased by Sourcerock Group LLC

Sourcerock Group LLC bought a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 100,000 shares of the company's stock, valued at approximately $9,943,000. Sourcerock Group LLC owned 0.10% of DT Midstream as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DTM. Louisiana State Employees Retirement System raised its position in shares of DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock valued at $2,685,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of DT Midstream by 15.0% in the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock worth $76,000 after buying an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock valued at $69,000 after acquiring an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in DT Midstream by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock valued at $1,235,000 after acquiring an additional 116 shares during the period. Finally, Lakeshore Financial Planning Inc. boosted its stake in shares of DT Midstream by 4.2% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock valued at $285,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DTM shares. Wells Fargo & Company dropped their price target 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. Raymond James raised their target price on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Stifel Nicolaus dropped their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, UBS Group boosted their target price on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, DT Midstream has a consensus rating of "Hold" and a consensus target price of $108.36.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 1,235 shares of company stock worth $109,867 in the last three months. Insiders own 0.34% of the company's stock.

DT Midstream Price Performance

DT Midstream stock traded up $2.00 during mid-day trading on Friday, hitting $104.09. The stock had a trading volume of 632,573 shares, compared to its average volume of 1,110,819. DT Midstream, Inc. has a one year low of $65.43 and a one year high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $10.57 billion, a P/E ratio of 25.33 and a beta of 0.77. The firm's 50 day moving average is $97.62 and its 200 day moving average is $99.80.

DT Midstream (NYSE:DTM - Get Free Report) last released 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 business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. During the same period last year, the company earned $0.99 EPS. On average, sell-side analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share 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 paid a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.15%. DT Midstream's payout ratio is currently 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.