Bessemer Group Inc. Acquires 117 Shares of DT Midstream, Inc. (NYSE:DTM)

Bessemer Group Inc. raised its stake in DT Midstream, Inc. (NYSE:DTM) by 61.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 307 shares of the company’s stock after acquiring an additional 117 shares during the quarter. Bessemer Group Inc.’s holdings in DT Midstream were worth $30,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. MML Investors Services LLC bought a new position in DT Midstream in the 3rd quarter valued at approximately $558,000. Barclays PLC boosted its holdings in shares of DT Midstream by 3.7% during the 3rd quarter. Barclays PLC now owns 283,363 shares of the company’s stock valued at $22,289,000 after acquiring an additional 10,074 shares in the last quarter. Sanctuary Advisors LLC grew its position in DT Midstream by 14.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 4,695 shares of the company’s stock worth $369,000 after acquiring an additional 597 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream in the 3rd quarter worth about $29,000. Finally, GAMMA Investing LLC raised its position in DT Midstream by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 3,985 shares of the company’s stock valued at $396,000 after purchasing an additional 1,388 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

DT Midstream Price Performance

DT Midstream stock opened at $96.84 on Friday. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.56 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $61.01 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 stock’s 50 day moving average price is $95.35 and its two-hundred day moving average price is $97.50.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were paid a $0.82 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, March 17th. DT Midstream’s payout ratio is 91.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DTM shares. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Bank of America started coverage on shares of DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. Raymond James increased their price objective on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. US Capital Advisors raised DT Midstream from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. Finally, Barclays decreased their price target on DT Midstream from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and a consensus price target of $104.67.

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.