Sourcerock Group LLC Buys New Holdings in DT Midstream, Inc. (NYSE:DTM)

Sourcerock Group LLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 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 and other institutional investors have also modified their holdings of the stock. Louisiana State Employees Retirement System raised its stake in 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 purchasing an additional 100 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock worth $76,000 after purchasing an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of DT Midstream by 17.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock worth $69,000 after purchasing an additional 105 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of DT Midstream by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock worth $1,235,000 after purchasing an additional 116 shares during the period. Finally, Lakeshore Financial Planning Inc. boosted its holdings 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 worth $285,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Up 2.0%

Shares of DTM stock traded up $2.00 on Friday, hitting $104.09. The company's stock had a trading volume of 633,014 shares, compared to its average volume of 874,877. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $114.50. The firm's fifty day moving average price is $97.78 and its 200-day moving average price is $99.88. The stock has a market capitalization of $10.57 billion, a price-to-earnings ratio of 25.33 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. During the same quarter last year, the business earned $0.99 EPS. Research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 annualized dividend and a dividend yield of 3.15%. DT Midstream's dividend payout ratio is presently 89.37%.

Analysts Set New Price Targets

Several research firms recently commented on DTM. JPMorgan Chase & Co. raised their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. UBS Group upped their target price on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Barclays upped their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $108.36.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders acquired 1,235 shares of company stock valued at $109,867. Insiders own 0.34% of the company's stock.

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.