Blackstone Inc. Buys 1,574,705 Shares of DT Midstream, Inc. (NYSE:DTM)

Blackstone Inc. grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 2,783.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,631,285 shares of the company’s stock after purchasing an additional 1,574,705 shares during the quarter. DT Midstream makes up approximately 0.7% of Blackstone Inc.’s portfolio, making the stock its 23rd biggest position. Blackstone Inc. owned 1.68% of DT Midstream worth $162,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in DTM. Barclays PLC boosted its position in DT Midstream by 3.7% during the 3rd quarter. Barclays PLC now owns 283,363 shares of the company’s stock valued at $22,289,000 after buying an additional 10,074 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream during the third quarter worth about $29,000. GAMMA Investing LLC grew its stake in shares of DT Midstream by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 3,985 shares of the company’s stock worth $396,000 after purchasing an additional 1,388 shares during the last quarter. Advance Capital Management Inc. bought a new stake in shares of DT Midstream in the fourth quarter worth about $296,000. Finally, Chickasaw Capital Management LLC increased its holdings in DT Midstream by 4.8% during the 4th quarter. Chickasaw Capital Management LLC now owns 317,231 shares of the company’s stock valued at $31,542,000 after purchasing an additional 14,631 shares during the period. Institutional investors own 81.53% of the company’s stock.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

DT Midstream Price Performance

Shares of NYSE DTM opened at $100.80 on Monday. 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 has a 50 day simple moving average of $94.98 and a two-hundred day simple moving average of $98.60. DT Midstream, Inc. has a fifty-two week low of $62.90 and a fifty-two week high of $114.50. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 24.53 and a beta of 0.77.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period last year, the business earned $0.99 EPS. Analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s payout ratio is 91.11%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DTM shares. Raymond James lifted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Stifel Nicolaus cut their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Williams Trading set a $110.00 price objective on shares of DT Midstream in a report on Monday, March 24th. Bank of America assumed coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $108.27.

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.