Burkehill Global Management LP Takes Position in DT Midstream, Inc. (NYSE:DTM)

Burkehill Global Management LP acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 125,000 shares of the company's stock, valued at approximately $12,429,000. DT Midstream makes up about 1.2% of Burkehill Global Management LP's investment portfolio, making the stock its 27th biggest position. Burkehill Global Management LP owned about 0.13% of DT Midstream as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its position in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company's stock valued at $268,757,000 after acquiring an additional 202,447 shares during the period. Geode Capital Management LLC increased its holdings in shares of DT Midstream by 4.3% in the third 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 period. Charles Schwab Investment Management Inc. raised its stake in shares of DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock worth $90,978,000 after purchasing an additional 267,269 shares during the last quarter. Brookfield Corp ON raised its stake in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock worth $81,689,000 after purchasing an additional 655,695 shares during the last quarter. Finally, Reaves W H & Co. Inc. lifted its holdings in shares of DT Midstream by 8.2% during the fourth quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company's stock worth $97,628,000 after purchasing an additional 74,329 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Remove Ads

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders bought 1,170 shares of company stock worth $103,357. Company insiders own 0.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group initiated coverage on shares of DT Midstream in a research report on Wednesday. They set a "buy" rating and a $102.00 price target for the company. Wells Fargo & Company reduced their target price 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. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and upped their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Raymond James increased their price target on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $102.00.

DT Midstream Price Performance

Shares of DT Midstream stock traded up $2.69 during trading hours on Friday, reaching $96.02. The stock had a trading volume of 1,162,947 shares, compared to its average volume of 762,819. The stock's 50 day moving average is $100.78 and its 200 day moving average is $94.40. The firm has a market capitalization of $9.73 billion, a PE ratio of 23.36 and a beta of 0.80. DT Midstream, Inc. has a twelve month low of $57.45 and a twelve month high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.42%. This is an increase from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio is 91.11%.

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.