Recurrent Investment Advisors LLC Acquires 11,670 Shares of DT Midstream, Inc. (NYSE:DTM)

Recurrent Investment Advisors LLC raised its position in DT Midstream, Inc. (NYSE:DTM) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 339,529 shares of the company’s stock after purchasing an additional 11,670 shares during the period. DT Midstream accounts for 3.1% of Recurrent Investment Advisors LLC’s investment portfolio, making the stock its 15th biggest position. Recurrent Investment Advisors LLC owned about 0.35% of DT Midstream worth $33,759,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Bessemer Group Inc. boosted its stake 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 buying an additional 117 shares in the last quarter. AdvisorNet Financial Inc boosted its holdings in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its position in DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the period. UMB Bank n.a. raised its holdings in 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 purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in DT Midstream in the 4th quarter worth $50,000. 81.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on DTM. Bank of America initiated coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. Morgan Stanley increased their target price on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 25th. Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, US Capital Advisors lowered DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Two investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $108.27.

DT Midstream Stock Up 0.3%

Shares of DT Midstream stock opened at $102.71 on Thursday. The company has a 50-day simple moving average of $96.34 and a two-hundred day simple moving average of $99.22. The stock has a market capitalization of $10.43 billion, a PE ratio of 24.99 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $65.43 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.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The firm had revenue of $288.81 million during the quarter, compared to analysts’ expectations of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Monday, June 16th. DT Midstream’s payout ratio is currently 89.37%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 1,235 shares of company stock valued at $109,867 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

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.