Burkehill Global Management LP Acquires Shares of 125,000 DT Midstream, Inc. (NYSE:DTM)

Burkehill Global Management LP bought a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 125,000 shares of the company’s stock, valued at approximately $12,429,000. DT Midstream comprises approximately 1.2% of Burkehill Global Management LP’s portfolio, making the stock its 27th biggest position. Burkehill Global Management LP owned approximately 0.13% of DT Midstream at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Atria Investments Inc bought a new stake in DT Midstream during the 3rd quarter worth about $666,000. Crossmark Global Holdings Inc. raised its stake in shares of DT Midstream by 18.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,138 shares of the company’s stock worth $719,000 after buying an additional 1,452 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of DT Midstream during the third quarter worth approximately $56,000. Victory Capital Management Inc. lifted its holdings in DT Midstream by 151.8% in the third quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock valued at $8,918,000 after buying an additional 68,350 shares during the period. Finally, Metis Global Partners LLC boosted its stake in DT Midstream by 33.5% in the third quarter. Metis Global Partners LLC now owns 5,395 shares of the company’s stock valued at $424,000 after acquiring an additional 1,354 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Raymond James increased their price target on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group started coverage on DT Midstream in a research note on Wednesday. They issued a “buy” rating and a $102.00 target price on the stock. JPMorgan Chase & Co. raised their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Finally, Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $102.00.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’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 transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 1,170 shares of company stock valued at $103,357. 0.04% of the stock is owned by corporate insiders.

DT Midstream Stock Performance

Shares of DTM stock opened at $93.59 on Thursday. The company has a market capitalization of $9.49 billion, a P/E ratio of 22.77 and a beta of 0.80. DT Midstream, Inc. has a 52 week low of $57.16 and a 52 week high of $114.50. 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 company’s 50 day moving average price is $101.10 and its two-hundred day moving average price is $94.14.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.50%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

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.