Capital Fund Management S.A. Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Capital Fund Management S.A. bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 19,321 shares of the company’s stock, valued at approximately $1,921,000.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after buying an additional 100,825 shares during the last quarter. Friedenthal Financial acquired a new position in shares of DT Midstream during the fourth quarter valued at $764,000. Truist Financial Corp bought a new position in shares of DT Midstream during the fourth quarter worth about $771,000. Thrivent Financial for Lutherans increased its holdings in shares of DT Midstream by 55.9% in the 4th 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 during the period. Finally, Geode Capital Management LLC lifted its position in DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after purchasing an additional 85,462 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTM. Raymond James upped their target price 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. The Goldman Sachs Group raised their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price target for the company. Morgan Stanley raised their price target on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company reduced their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.67.

DT Midstream Stock Up 1.6 %

NYSE DTM opened at $94.28 on Tuesday. The company has a market capitalization of $9.58 billion, a P/E ratio of 22.94 and a beta of 0.77. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. 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’s 50 day simple moving average is $95.75 and its 200 day simple moving average is $97.28.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is 91.11%.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 1,170 shares of company stock valued at $103,357 in the last three months. 0.04% of the stock is currently owned by corporate insiders.

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.