Marshall Wace LLP Makes New $3.48 Million Investment in DT Midstream, Inc. (NYSE:DTM)

Marshall Wace LLP purchased a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 35,032 shares of the company's stock, valued at approximately $3,483,000.

Several other hedge funds have also recently added to or reduced their stakes in DTM. NewEdge Advisors LLC boosted its stake in DT Midstream by 1.1% in the 4th quarter. NewEdge Advisors LLC now owns 13,413 shares of the company's stock worth $1,334,000 after purchasing an additional 142 shares during the period. EAM Global Investors LLC acquired a new position in DT Midstream in the 4th quarter worth about $4,809,000. EAM Investors LLC increased its holdings in shares of DT Midstream by 23.6% during the 4th quarter. EAM Investors LLC now owns 50,276 shares of the company's stock valued at $4,999,000 after acquiring an additional 9,596 shares during the last quarter. Finward Bancorp acquired a new position in shares of DT Midstream during the 4th quarter valued at about $217,000. Finally, United Capital Financial Advisors LLC acquired a new position in shares of DT Midstream during the 4th quarter valued at about $209,000. Institutional investors and hedge funds own 81.53% of the company's stock.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business's stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on DTM shares. Bank of America assumed coverage on DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 target price on the stock. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Wells Fargo & Company dropped their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday. Finally, Morgan Stanley upped their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $104.67.

DT Midstream Stock Down 0.3 %

NYSE DTM traded down $0.32 during trading hours on Tuesday, reaching $98.42. 1,174,486 shares of the company's stock were exchanged, compared to its average volume of 851,932. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 23.95 and a beta of 0.77. DT Midstream, Inc. has a one year low of $61.01 and a one year high of $114.50. The company's 50-day moving average is $94.91 and its two-hundred day moving average is $98.26. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a dividend of $0.82 per share. This is a boost from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Monday, March 17th. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

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.