Moore Capital Management LP Makes New $7.12 Million Investment in DT Midstream, Inc. (NYSE:DTM)

Moore Capital Management LP bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, HoldingsChannel reports. The firm bought 71,576 shares of the company’s stock, valued at approximately $7,117,000.

Several other hedge funds also recently made changes to their positions in DTM. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream in the 3rd quarter worth about $29,000. Bessemer Group Inc. grew its holdings in 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 during the period. AdvisorNet Financial Inc lifted its holdings in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its stake in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after buying an additional 163 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in shares of DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after buying an additional 167 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DTM has been the topic of several recent analyst reports. US Capital Advisors downgraded shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Barclays decreased their price objective on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Raymond James increased their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They issued a “buy” rating and a $110.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. 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 company. According to MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average price target of $108.27.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value 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. This represents a 2.66% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 1,235 shares of company stock worth $109,867 over the last quarter. Insiders own 0.34% of the company’s stock.

DT Midstream Trading Up 1.2%

Shares of DTM stock opened at $101.28 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $10.29 billion, a price-to-earnings ratio of 24.64 and a beta of 0.77. DT Midstream, Inc. has a 1 year low of $64.56 and a 1 year high of $114.50. The firm has a fifty day moving average price of $95.66 and a 200-day moving average price of $99.09.

DT Midstream (NYSE:DTM) last released its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share (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 firm had revenue of $288.81 million during 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 earnings per share for the current year.

DT Midstream Dividend Announcement

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

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.