DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Pinebridge Investments L.P.

Pinebridge Investments L.P. grew its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 43.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,767 shares of the company's stock after acquiring an additional 11,964 shares during the quarter. Pinebridge Investments L.P.'s holdings in DT Midstream were worth $3,954,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTM. Norges Bank acquired a new stake in shares of DT Midstream during the 4th quarter worth approximately $119,520,000. Bank of Montreal Can boosted its position in shares of DT Midstream by 733.3% during the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock worth $45,617,000 after acquiring an additional 403,730 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after purchasing an additional 386,670 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after purchasing an additional 359,017 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after buying an additional 294,583 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

DT Midstream Stock Performance

DTM stock traded up $1.08 during midday trading on Thursday, reaching $98.28. 653,923 shares of the company's stock traded hands, compared to its average volume of 851,165. The firm has a market capitalization of $9.98 billion, a PE ratio of 23.99 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. The company has a 50-day moving average price of $94.86 and a two-hundred day moving average price of $98.25. 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 released its earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million during the quarter, compared to analysts' expectations of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the prior year, the company posted $0.99 earnings per share. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's payout ratio is 91.11%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DTM. Bank of America initiated coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective for the company. Williams Trading set a $110.00 target price on shares of DT Midstream in a research report on Monday, March 24th. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. UBS Group increased their target price on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. lifted their price objective on DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.