DT Midstream, Inc. (NYSE:DTM) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 88.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,876 shares of the company's stock after selling 68,482 shares during the quarter. Squarepoint Ops LLC's holdings in DT Midstream were worth $883,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position in shares of DT Midstream by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock worth $2,685,000 after purchasing an additional 100 shares in the last quarter. Jones Financial Companies Lllp grew its position in DT Midstream by 15.0% during the 4th 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 last quarter. Allspring Global Investments Holdings LLC increased its stake 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 purchasing an additional 116 shares in the last quarter. Lakeshore Financial Planning Inc. increased its stake in DT Midstream by 4.2% during the 4th 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 in the last quarter. Finally, Bessemer Group Inc. raised its holdings in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after buying an additional 117 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DT Midstream

In related 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 purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company's stock.

DT Midstream Price Performance

DTM stock traded up $0.63 during mid-day trading on Tuesday, reaching $107.33. 868,377 shares of the company's stock were exchanged, compared to its average volume of 880,542. 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 12-month low of $66.37 and a 12-month high of $114.50. The stock's 50 day moving average is $98.48 and its 200 day moving average is $100.16. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 26.11 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced 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). 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 for the quarter, compared to analyst estimates of $285.48 million. During the same period in the previous year, the company earned $0.99 earnings per share. On average, research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.06%. The ex-dividend date is Monday, June 16th. DT Midstream's payout ratio is 89.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DTM. UBS Group upped their price objective 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. Morgan Stanley increased their price target on DT Midstream from $105.00 to $115.00 and gave the stock an "underweight" rating in a research report on Tuesday. Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective for the company. Barclays lifted their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Stifel Nicolaus lowered their price objective 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. 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 MarketBeat, DT Midstream has an average rating of "Hold" and an average target price of $109.27.

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.