Quantessence Capital LLC Buys Shares of 6,841 DT Midstream, Inc. (NYSE:DTM)

Quantessence Capital LLC bought 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 (SEC). The institutional investor bought 6,841 shares of the company's stock, valued at approximately $680,000.

A number of other hedge funds also recently made changes to their positions in DTM. Louisiana State Employees Retirement System grew its stake in shares of DT Midstream by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock worth $2,685,000 after buying an additional 100 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock worth $76,000 after purchasing an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in shares of DT Midstream by 17.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock worth $69,000 after purchasing an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock worth $1,235,000 after acquiring an additional 116 shares during the period. Finally, Lakeshore Financial Planning Inc. grew its holdings in DT Midstream by 4.2% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after acquiring an additional 116 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on DTM shares. Stifel Nicolaus reduced 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. US Capital Advisors raised DT Midstream from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Raymond James boosted their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Williams Trading set a $110.00 price objective on shares of DT Midstream in a report on Monday, March 24th. Finally, Bank of America initiated coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, DT Midstream has an average rating of "Hold" and a consensus price target of $104.67.

DT Midstream Trading Down 4.0 %

Shares of DT Midstream stock opened at $93.05 on Tuesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $9.45 billion, a P/E ratio of 22.64 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $61.01 and a 52-week high of $114.50. The stock's 50-day simple moving average is $95.24 and its 200 day simple moving average is $97.78.

DT Midstream Increases Dividend

The firm 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. This is a boost from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.52%. DT Midstream's payout ratio is presently 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.

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