GAMMA Investing LLC Buys 208 Shares of DT Midstream, Inc. (NYSE:DTM)

GAMMA Investing LLC increased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 21.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,185 shares of the company’s stock after acquiring an additional 208 shares during the quarter. GAMMA Investing LLC’s holdings in DT Midstream were worth $72,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. First Trust Advisors LP grew its position in shares of DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after purchasing an additional 1,128,056 shares in the last quarter. Norges Bank purchased a new position in DT Midstream during the 4th quarter valued at approximately $61,638,000. HITE Hedge Asset Management LLC bought a new stake in DT Midstream in the 4th quarter worth approximately $47,462,000. Deutsche Bank AG raised its holdings in shares of DT Midstream by 1,176.7% during the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock worth $45,889,000 after acquiring an additional 799,224 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after acquiring an additional 266,433 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

DTM opened at $69.55 on Monday. The business has a fifty day moving average of $65.77 and a 200 day moving average of $59.61. The stock has a market cap of $6.75 billion, a P/E ratio of 16.96 and a beta of 0.73. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a 52-week low of $46.36 and a 52-week high of $70.04.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The firm had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same period in the previous year, the firm earned $0.84 earnings per share. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.94 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Monday, June 17th. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Insider Activity

In other news, CFO Jeffrey A. Jewell acquired 400 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $62.80 per share, with a total value of $25,120.00. Following the completion of the purchase, the chief financial officer now directly owns 44,285 shares in the company, valued at $2,781,098. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of DT Midstream from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $62.00 to $77.00 in a research report on Tuesday, June 4th. Barclays upped their target price on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Stifel Nicolaus lifted their price target on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Finally, Mizuho lifted their target price on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and a consensus price target of $63.71.

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.