Algert Global LLC Takes $1.17 Million Position in DT Midstream, Inc. (NYSE:DTM)

Algert Global LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 11,780 shares of the company’s stock, valued at approximately $1,171,000.

Several other institutional investors have also bought and sold shares of the stock. Friedenthal Financial bought a new position in shares of DT Midstream during the fourth quarter valued at $764,000. Truist Financial Corp bought a new position in DT Midstream during the 4th quarter valued at about $771,000. Thrivent Financial for Lutherans boosted its position in DT Midstream by 55.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company’s stock valued at $3,536,000 after buying an additional 12,755 shares in the last quarter. UMB Bank n.a. grew its stake in DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after buying an additional 167 shares during the last quarter. Finally, Atria Investments Inc increased its holdings in shares of DT Midstream by 82.0% during the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company’s stock worth $1,532,000 after buying an additional 6,946 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Stifel Nicolaus decreased their price target 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. Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday, March 24th. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. UBS Group raised their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Finally, Bank of America assumed coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $108.27.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 1,235 shares of company stock valued at $109,867 in the last quarter. Company insiders own 0.34% of the company’s stock.

DT Midstream Stock Performance

DTM stock opened at $101.28 on Friday. DT Midstream, Inc. has a twelve month low of $64.56 and a twelve month high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $10.29 billion, a P/E ratio of 24.64 and a beta of 0.77. The business’s fifty day moving average is $95.66 and its 200-day moving average is $99.01.

DT Midstream (NYSE:DTM) last issued its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the business posted $0.99 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.24%. DT Midstream’s dividend payout ratio is 89.37%.

About DT Midstream

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.