35,032 Shares in DT Midstream, Inc. (NYSE:DTM) Bought by Marshall Wace LLP

Marshall Wace LLP acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 35,032 shares of the company's stock, valued at approximately $3,483,000.

Several other institutional investors have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in DT Midstream in the 3rd quarter worth about $29,000. Bessemer Group Inc. increased its holdings in DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after acquiring an additional 117 shares during the period. AdvisorNet Financial Inc lifted its stake in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after purchasing an additional 167 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company's stock.

DT Midstream Trading Up 2.8 %

Shares of DT Midstream stock traded up $2.76 during midday trading on Thursday, reaching $99.96. 500,679 shares of the company's stock traded hands, compared to its average volume of 850,624. The stock has a 50 day moving average of $94.86 and a 200-day moving average of $98.25. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. The company has a market cap of $10.16 billion, a PE ratio of 24.37 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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 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 company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period in the previous year, the firm posted $0.99 EPS. As a group, equities analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a dividend of $0.82 per share. The ex-dividend date was Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.28%. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Bank of America started coverage on DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price target for the company. Morgan Stanley raised their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research report on Tuesday, March 25th. US Capital Advisors downgraded DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday. Barclays cut their price objective on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, Wells Fargo & Company cut their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $108.27.

DT Midstream Company 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.