56,700 Shares in DT Midstream, Inc. (NYSE:DTM) Acquired by Candelo Capital Management LP

Candelo Capital Management LP acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 56,700 shares of the company's stock, valued at approximately $5,638,000. DT Midstream comprises approximately 2.8% of Candelo Capital Management LP's portfolio, making the stock its 13th biggest holding. Candelo Capital Management LP owned 0.06% of DT Midstream as of its most recent filing with the Securities and Exchange Commission.

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

DT Midstream Price Performance

NYSE DTM traded down $0.11 on Friday, hitting $98.80. The company had a trading volume of 505,686 shares, compared to its average volume of 849,579. The company's fifty day moving average price is $94.97 and its 200-day moving average price is $97.97. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50. The company has a market capitalization of $10.04 billion, a PE ratio of 24.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a dividend of $0.82 per share. The ex-dividend date was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio is presently 91.11%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DTM shares. Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. Wells Fargo & Company lowered their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Stifel Nicolaus decreased their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Morgan Stanley boosted their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $104.67.

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.