Gotham Asset Management LLC Purchases 2,806 Shares of DT Midstream, Inc. (NYSE:DTM)

Gotham Asset Management LLC grew its position in DT Midstream, Inc. (NYSE:DTM) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,066 shares of the company’s stock after acquiring an additional 2,806 shares during the quarter. Gotham Asset Management LLC owned about 0.16% of DT Midstream worth $15,319,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Blackstone Inc. raised its stake in shares of DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after acquiring an additional 1,574,705 shares in the last quarter. Norges Bank bought a new position in shares of DT Midstream during the 4th quarter worth approximately $119,520,000. Bank of Montreal Can boosted its holdings in DT Midstream by 733.3% in the fourth 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 lifted 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 buying an additional 386,670 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of 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 buying an additional 359,017 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired 1,235 shares of company stock valued at $109,867 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DTM has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Barclays lowered their target price on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, Morgan Stanley increased their target price on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research report on Tuesday, March 25th. 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 stock. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and an average price target of $108.27.

DT Midstream Stock Up 1.2 %

DT Midstream stock opened at $101.28 on Friday. DT Midstream, Inc. has a one year low of $64.56 and a one year high of $114.50. The firm has a market capitalization of $10.29 billion, a P/E ratio of 24.64 and a beta of 0.77. The company has a 50-day simple moving average of $95.66 and a 200-day simple moving average of $99.01. 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) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. During the same quarter last year, the firm posted $0.99 earnings per share. As a group, equities analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is currently 89.37%.

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.