Moore Capital Management LP Invests $7.12 Million in DT Midstream, Inc. (NYSE:DTM)

Moore Capital Management LP bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 71,576 shares of the company's stock, valued at approximately $7,117,000. Moore Capital Management LP owned approximately 0.07% of DT Midstream as of its most recent filing with the Securities & Exchange Commission.

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

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares of the company's stock, valued at $3,359,718.76. This represents a 2.66% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have purchased 1,235 shares of company stock valued at $109,867. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on DTM shares. Stifel Nicolaus cut their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price target on DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Barclays cut their price target on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a research note on Friday, April 11th. Bank of America started coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 target price on the stock. Finally, Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday, March 24th. 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 company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $108.27.

DT Midstream Price Performance

Shares of DT Midstream stock traded up $0.51 during trading on Friday, hitting $104.04. The stock had a trading volume of 569,288 shares, compared to its average volume of 869,111. DT Midstream, Inc. has a 12 month low of $65.43 and a 12 month high of $114.50. The business's 50-day moving average is $96.67 and its 200 day moving average is $99.33. The firm has a market cap of $10.57 billion, a price-to-earnings ratio of 25.31 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.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) 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 company had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.82 per share. 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 dividend payout ratio (DPR) is currently 89.37%.

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.