Zimmer Partners LP Makes New $74.57 Million Investment in DT Midstream, Inc. (NYSE:DTM)

Zimmer Partners LP bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 750,000 shares of the company's stock, valued at approximately $74,572,000. DT Midstream accounts for approximately 1.3% of Zimmer Partners LP's investment portfolio, making the stock its 23rd biggest position. Zimmer Partners LP owned about 0.77% of DT Midstream at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. Bessemer Group Inc. raised its stake in DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the period. Sound Income Strategies LLC increased its stake in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after acquiring an additional 163 shares during the last quarter. UMB Bank n.a. increased its stake in DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after acquiring an additional 167 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in DT Midstream in the 4th quarter worth approximately $50,000. Finally, Wilmington Savings Fund Society FSB increased its stake in DT Midstream by 38.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company's stock worth $51,000 after acquiring an additional 141 shares during the last quarter. Institutional investors own 81.53% of the company's stock.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 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 acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired a total of 1,235 shares of company stock worth $109,867 in the last quarter. 0.34% of the stock is owned by company insiders.

DT Midstream Trading Up 2.0%

Shares of NYSE DTM traded up $2.00 during trading hours on Friday, hitting $104.09. 633,014 shares of the company traded hands, compared to its average volume of 875,325. The stock has a market capitalization of $10.57 billion, a price-to-earnings ratio of 25.33 and a beta of 0.77. 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 company's 50 day moving average price is $97.78 and its 200 day moving average price is $99.91. DT Midstream, Inc. has a 12 month low of $65.45 and a 12 month high of $114.50.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $288.81 million for the quarter, compared to analysts' expectations of $285.48 million. During the same quarter in the previous year, the firm earned $0.99 EPS. On average, equities research analysts anticipate 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. Investors of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, June 16th. DT Midstream's payout ratio is currently 89.37%.

Analyst Upgrades and Downgrades

DTM has been the topic of a number of research reports. Barclays lifted their price objective on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. UBS Group lifted their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Raymond James lifted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Wells Fargo & Company reduced their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, DT Midstream has a consensus rating of "Hold" and a consensus price target of $108.36.

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.