Quantessence Capital LLC Purchases New Shares in DT Midstream, Inc. (NYSE:DTM)

Quantessence Capital LLC acquired a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,841 shares of the company's stock, valued at approximately $680,000.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the period. Geode Capital Management LLC lifted its position in shares of DT Midstream by 18.7% during the 4th 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. Invesco Ltd. boosted its stake in DT Midstream by 24.7% during the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after purchasing an additional 294,583 shares during the period. Norges Bank acquired a new stake in DT Midstream in the 4th quarter valued at approximately $119,520,000. Finally, Reaves W H & Co. Inc. increased its position in DT Midstream by 8.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company's stock worth $97,628,000 after buying an additional 74,329 shares during the period. 81.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

DTM has been the subject of several research reports. Raymond James increased their price objective on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Morgan Stanley increased their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday, March 25th. US Capital Advisors upgraded shares of DT Midstream from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price objective for the company. Finally, Barclays decreased their target price on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $104.67.

DT Midstream Price Performance

Shares of DTM stock traded down $0.11 during trading hours on Friday, hitting $98.80. The company had a trading volume of 505,686 shares, compared to its average volume of 850,170. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm's fifty day moving average is $94.97 and its 200 day moving average is $98.07. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 24.04 and a beta of 0.77.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.32%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Monday, March 17th. DT Midstream's dividend payout ratio is 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm's stock in a transaction on 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.34% of the company's stock.

DT Midstream 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.