PDT Partners LLC Invests $4.03 Million in DT Midstream, Inc. (NYSE:DTM)

PDT Partners LLC purchased a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,532 shares of the company's stock, valued at approximately $4,030,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Barclays PLC grew its holdings in shares of DT Midstream by 3.7% in the third quarter. Barclays PLC now owns 283,363 shares of the company's stock valued at $22,289,000 after purchasing an additional 10,074 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in DT Midstream during the third quarter valued at $29,000. GAMMA Investing LLC grew its stake in shares of DT Midstream by 53.4% in the 4th quarter. GAMMA Investing LLC now owns 3,985 shares of the company's stock worth $396,000 after buying an additional 1,388 shares in the last quarter. Advance Capital Management Inc. bought a new stake in shares of DT Midstream in the 4th quarter worth about $296,000. Finally, Chickasaw Capital Management LLC raised its position in shares of DT Midstream by 4.8% during the 4th quarter. Chickasaw Capital Management LLC now owns 317,231 shares of the company's stock valued at $31,542,000 after buying an additional 14,631 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on DTM. Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective on the stock. Barclays decreased their price target on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company dropped their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Finally, Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $108.27.

DT Midstream Stock Up 3.1 %

Shares of DTM traded up $3.00 during midday trading on Friday, reaching $100.80. 957,872 shares of the stock were exchanged, compared to its average volume of 856,662. The company has a market capitalization of $10.24 billion, a P/E ratio of 24.53 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, Inc. has a 52 week low of $62.44 and a 52 week high of $114.50. The company's 50 day moving average is $94.98 and its two-hundred day moving average is $98.43.

DT Midstream (NYSE:DTM - Get Free Report) last issued 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 business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share 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 paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's dividend payout ratio (DPR) is 91.11%.

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.