Algert Global LLC Purchases Shares of 11,780 DT Midstream, Inc. (NYSE:DTM)

Algert Global LLC acquired a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 11,780 shares of the company’s stock, valued at approximately $1,171,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTM. Friedenthal Financial acquired a new position in shares of DT Midstream in the 4th quarter valued at $764,000. Truist Financial Corp acquired a new position in shares of DT Midstream in the fourth quarter worth about $771,000. Thrivent Financial for Lutherans increased its position in shares of DT Midstream by 55.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company’s stock worth $3,536,000 after acquiring an additional 12,755 shares in the last quarter. UMB Bank n.a. raised its holdings in shares of DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after acquiring an additional 167 shares during the period. Finally, Atria Investments Inc lifted its position in shares of DT Midstream by 82.0% in the 4th quarter. Atria Investments Inc now owns 15,412 shares of the company’s stock valued at $1,532,000 after acquiring an additional 6,946 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Price Performance

NYSE DTM opened at $101.28 on Friday. DT Midstream, Inc. has a fifty-two week low of $64.56 and a fifty-two week high of $114.50. The stock’s 50-day moving average is $95.66 and its two-hundred day moving average is $99.01. The firm has a market cap of $10.29 billion, a P/E ratio of 24.64 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

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

DT Midstream Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DTM. Wells Fargo & Company cut their target price on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 target price on the stock. Raymond James increased 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. Finally, Stifel Nicolaus dropped their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $108.27.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired 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 approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought 1,235 shares of company stock worth $109,867 over the last ninety days. Company insiders own 0.34% of the company’s stock.

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.