FORA Capital LLC Has $2 Million Stake in DT Midstream, Inc. (NYSE:DTM)

FORA Capital LLC increased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 16.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,065 shares of the company’s stock after buying an additional 2,768 shares during the quarter. FORA Capital LLC’s holdings in DT Midstream were worth $1,995,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DTM. Clark Capital Management Group Inc. lifted its holdings in shares of DT Midstream by 32.7% during the 4th quarter. Clark Capital Management Group Inc. now owns 43,726 shares of the company’s stock worth $4,348,000 after acquiring an additional 10,769 shares during the period. Deutsche Bank AG raised its stake in shares of DT Midstream by 5.5% in the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock worth $281,569,000 after purchasing an additional 147,790 shares during the last quarter. Eagle Global Advisors LLC boosted its stake in shares of DT Midstream by 33.0% in the 4th quarter. Eagle Global Advisors LLC now owns 435,365 shares of the company’s stock worth $43,288,000 after buying an additional 107,955 shares during the last quarter. CoreCap Advisors LLC increased its holdings in DT Midstream by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 13,989 shares of the company’s stock worth $1,391,000 after buying an additional 530 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of DT Midstream by 4.4% in the fourth quarter. Cresset Asset Management LLC now owns 6,122 shares of the company’s stock valued at $613,000 after buying an additional 260 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DTM shares. Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus reduced their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. 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 report on Thursday, March 27th. 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. Finally, US Capital Advisors downgraded shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 28th. Two research 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 company presently has an average rating of “Hold” and an average target price of $108.27.

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 owned by insiders.

DT Midstream Stock Performance

NYSE DTM opened at $100.27 on Friday. The business’s 50 day moving average price is $95.50 and its 200-day moving average price is $98.83. The company has a market cap of $10.19 billion, a P/E ratio of 24.40 and a beta of 0.77. 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, Inc. has a fifty-two week low of $63.87 and a fifty-two week high of $114.50.

DT Midstream (NYSE:DTM) 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). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period in the prior year, the company posted $0.99 EPS. Sell-side analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a $0.82 dividend. The ex-dividend date is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.27%. DT Midstream’s dividend payout ratio is currently 89.37%.

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.