DT Midstream, Inc. (NYSE:DTM) Shares Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. raised its position in DT Midstream, Inc. (NYSE:DTM) by 287.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 410,332 shares of the company’s stock after acquiring an additional 304,555 shares during the quarter. Point72 Asset Management L.P.’s holdings in DT Midstream were worth $40,799,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Bessemer Group Inc. grew its stake in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. AdvisorNet Financial Inc grew its stake in shares of DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares in the last quarter. UMB Bank n.a. grew its stake in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of DT Midstream in the fourth quarter worth $50,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

DTM opened at $103.56 on Friday. The firm has a market cap of $10.52 billion, a PE ratio of 25.20 and a beta of 0.77. 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 business has a fifty day simple moving average of $96.67 and a 200-day simple moving average of $99.33. DT Midstream, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $114.50.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 EPS 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 firm had revenue of $288.81 million for the quarter, compared to analysts’ expectations of $285.48 million. During the same period in the prior year, the company posted $0.99 earnings per share. As a group, equities analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s dividend payout ratio is presently 89.37%.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, 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 SEC, which can be accessed through the SEC website. Over the last ninety days, insiders bought 1,235 shares of company stock valued at $109,867. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. 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 note on Friday, January 24th. Morgan Stanley upped their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 25th. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. UBS Group boosted their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Wells Fargo & Company dropped their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target 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.