Gotham Asset Management LLC Purchases 2,806 Shares of DT Midstream, Inc. (NYSE:DTM)

Gotham Asset Management LLC grew its position in DT Midstream, Inc. (NYSE:DTM) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,066 shares of the company’s stock after acquiring an additional 2,806 shares during the period. Gotham Asset Management LLC’s holdings in DT Midstream were worth $15,319,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of DTM. Bessemer Group Inc. increased its holdings in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its position in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after acquiring an additional 163 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in DT Midstream in the 3rd quarter valued at approximately $29,000. Finally, UMB Bank n.a. grew its position in DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after acquiring an additional 167 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Price Performance

DTM stock opened at $101.28 on Friday. 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 market capitalization of $10.29 billion, a PE ratio of 24.64 and a beta of 0.77. DT Midstream, Inc. has a one year low of $64.56 and a one year high of $114.50. The company’s fifty day moving average price is $95.66 and its 200-day moving average price is $99.01.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.07 by ($0.01). The firm had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same quarter in the previous year, the company posted $0.99 earnings per share. On average, equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Monday, June 16th. DT Midstream’s payout ratio is currently 89.37%.

Wall Street Analyst Weigh In

DTM has been the topic of a number of recent analyst reports. 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 note on Tuesday, January 28th. Wells Fargo & Company lowered their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Bank of America initiated coverage on DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 price objective for the company. Stifel Nicolaus decreased their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Barclays lowered their price objective on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Two equities research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.27.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 1,235 shares of company stock worth $109,867 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

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.