Bayesian Capital Management LP Acquires 600 Shares of DT Midstream, Inc. (NYSE:DTM)

Bayesian Capital Management LP boosted its position in shares of DT Midstream, Inc. (NYSE:DTM) by 10.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,400 shares of the company’s stock after acquiring an additional 600 shares during the period. Bayesian Capital Management LP’s holdings in DT Midstream were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bright Rock Capital Management LLC bought a new position in DT Midstream during the first quarter valued at about $916,000. Prevail Innovative Wealth Advisors LLC grew its stake in shares of DT Midstream by 37.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock valued at $2,316,000 after purchasing an additional 10,418 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of DT Midstream by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after purchasing an additional 266,433 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of DT Midstream by 137.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after purchasing an additional 17,437 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of DT Midstream in the 1st quarter valued at approximately $1,085,000. 81.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upgraded DT Midstream from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $62.00 to $77.00 in a research note on Tuesday, June 4th. Stifel Nicolaus boosted their target price on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. US Capital Advisors downgraded DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Barclays upped their price objective on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.67.

DT Midstream Trading Up 1.6 %

Shares of DT Midstream stock traded up $1.22 on Wednesday, hitting $75.87. 66,463 shares of the company’s stock traded hands, compared to its average volume of 658,613. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. DT Midstream, Inc. has a one year low of $50.54 and a one year high of $76.01. The firm’s 50-day moving average price is $69.89 and its two-hundred day moving average price is $62.89. The stock has a market capitalization of $7.37 billion, a PE ratio of 18.22 and a beta of 0.74.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same quarter in the prior year, the company earned $0.93 EPS. On average, research analysts expect that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.88%. DT Midstream’s dividend payout ratio is presently 71.71%.

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell bought 400 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $62.80 per share, with a total value of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares of the company’s stock, valued at $2,781,098. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

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.