Clark Capital Management Group Inc. Purchases 10,769 Shares of DT Midstream, Inc. (NYSE:DTM)

Clark Capital Management Group Inc. boosted its stake in DT Midstream, Inc. (NYSE:DTM) by 32.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,726 shares of the company’s stock after purchasing an additional 10,769 shares during the period. Clark Capital Management Group Inc.’s holdings in DT Midstream were worth $4,348,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Deutsche Bank AG raised its holdings in shares of DT Midstream by 5.5% in the 4th 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 period. Eagle Global Advisors LLC raised its position 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 acquiring an additional 107,955 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of DT Midstream by 3.9% in the 4th quarter. CoreCap Advisors LLC now owns 13,989 shares of the company’s stock worth $1,391,000 after purchasing an additional 530 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in shares of DT Midstream by 4.4% during the 4th 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. Finally, Cetera Investment Advisers boosted its position in shares of DT Midstream by 7.0% in the fourth quarter. Cetera Investment Advisers now owns 77,139 shares of the company’s stock worth $7,670,000 after purchasing an additional 5,073 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.34% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $100.27 on Friday. DT Midstream, Inc. has a 52 week low of $63.87 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50 day moving average price is $95.50 and its two-hundred day moving average price is $98.83. The company has a market capitalization of $10.19 billion, a P/E ratio of 24.40 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share 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 company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business 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 dividend yield of 3.27%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is currently 89.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DTM shares. UBS Group increased their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Williams Trading set a $110.00 price target on DT Midstream in a research note on Monday, March 24th. Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Barclays decreased their price target on 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. Finally, JPMorgan Chase & Co. upped their price objective on DT Midstream from $109.00 to $115.00 and gave the stock 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 issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $108.27.

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.