Dark Forest Capital Management LP Purchases 5,245 Shares of DT Midstream, Inc. (NYSE:DTM)

Dark Forest Capital Management LP increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 161.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,490 shares of the company’s stock after purchasing an additional 5,245 shares during the period. Dark Forest Capital Management LP’s holdings in DT Midstream were worth $844,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in shares of DT Midstream by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock valued at $2,685,000 after acquiring an additional 100 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after purchasing an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after purchasing an additional 105 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of DT Midstream by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock worth $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. increased its holdings in shares of DT Midstream by 4.2% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock worth $285,000 after purchasing an additional 116 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DTM has been the topic of a number of analyst reports. Barclays reduced their price target 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. Bank of America assumed coverage on DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 target price on the stock. UBS Group boosted their price target on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Stifel Nicolaus cut their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $104.67.

DT Midstream Price Performance

DTM stock opened at $98.83 on Friday. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 24.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50 day simple moving average of $95.03 and a 200 day simple moving average of $97.86. DT Midstream, Inc. has a 1 year low of $61.01 and a 1 year high of $114.50.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend 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 presently 91.11%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by corporate insiders.

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.