Jacobs Levy Equity Management Inc. Raises Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Jacobs Levy Equity Management Inc. raised its position in DT Midstream, Inc. (NYSE:DTM) by 872.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,472 shares of the company’s stock after buying an additional 36,311 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in DT Midstream were worth $4,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after purchasing an additional 359,017 shares during the period. Deutsche Bank AG lifted its holdings in shares of DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock worth $281,569,000 after purchasing an additional 147,790 shares during the period. Geode Capital Management LLC lifted its holdings in shares of DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock worth $243,948,000 after purchasing an additional 386,670 shares during the period. Blackstone Inc. lifted its holdings in shares of DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock worth $147,942,000 after purchasing an additional 294,583 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

DTM has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Morgan Stanley increased their price target on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. US Capital Advisors downgraded DT Midstream from a “moderate buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, Barclays reduced their target price on DT Midstream from $107.00 to $102.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $108.27.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 1,235 shares of company stock worth $109,867 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

DT Midstream Trading Up 0.3%

Shares of DTM stock opened at $102.71 on Thursday. DT Midstream, Inc. has a fifty-two week low of $65.43 and a fifty-two week high of $114.50. The stock has a market cap of $10.43 billion, a P/E ratio of 24.99 and a beta of 0.77. The business has a fifty day simple moving average of $96.34 and a 200-day simple moving average of $99.22. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results 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 firm had revenue of $288.81 million during the quarter, compared to analysts’ expectations of $285.48 million. During the same quarter in the prior year, the business earned $0.99 EPS. On average, analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share 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. Stockholders of record on Monday, June 16th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio is currently 89.37%.

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.