Jacobs Levy Equity Management Inc. Grows Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Jacobs Levy Equity Management Inc. raised its position in shares of DT Midstream, Inc. (NYSE:DTM) by 872.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,472 shares of the company’s stock after buying an additional 36,311 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in DT Midstream were worth $4,024,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DTM. Blackstone Inc. lifted its position 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 buying an additional 1,574,705 shares during the last quarter. Norges Bank purchased a new stake in shares of DT Midstream during the fourth quarter valued at about $119,520,000. Bank of Montreal Can raised its position in shares of DT Midstream by 733.3% in the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock valued at $45,617,000 after purchasing an additional 403,730 shares during the last quarter. Geode Capital Management LLC raised its position in shares of DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after purchasing an additional 359,017 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DTM opened at $102.71 on Thursday. The stock has a 50 day moving average price of $96.34 and a 200 day moving average price of $99.22. 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 capitalization of $10.43 billion, a price-to-earnings ratio of 24.99 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $65.43 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM) last announced its quarterly 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 business had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period last year, the company earned $0.99 earnings per share. Research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 3.19%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is 89.37%.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The stock was 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 owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders acquired 1,235 shares of company stock valued at $109,867 over the last three months. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. US Capital Advisors lowered shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. JPMorgan Chase & Co. raised 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. Raymond James raised their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Williams Trading set a $110.00 price target on shares of DT Midstream in a research report on Monday, March 24th. Finally, Morgan Stanley raised their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $108.27.

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.