Centiva Capital LP Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Centiva Capital LP purchased a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 3,749 shares of the company’s stock, valued at approximately $373,000.

Several other hedge funds have also recently added to or reduced their stakes in DTM. Blackstone Inc. grew its position in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock worth $162,199,000 after buying an additional 1,574,705 shares during the last quarter. Norges Bank purchased a new position in DT Midstream during the 4th quarter worth approximately $119,520,000. Bank of Montreal Can grew its position in DT Midstream by 733.3% during the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock worth $45,617,000 after purchasing an additional 403,730 shares in the last quarter. Geode Capital Management LLC grew its position in DT Midstream by 18.7% during the 4th 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 in the last quarter. Finally, Vanguard Group Inc. grew its position in DT Midstream by 3.5% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on DTM. Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price objective on the stock. US Capital Advisors cut shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Stifel Nicolaus lowered their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. UBS Group lifted their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Finally, Raymond James lifted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $108.27.

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 purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. The trade was a 2.66% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders acquired 1,235 shares of company stock valued at $109,867. Insiders own 0.34% of the company’s stock.

DT Midstream Stock Up 1.2%

DTM stock opened at $101.28 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 1 year low of $64.56 and a 1 year high of $114.50. The company has a fifty day simple moving average of $95.66 and a 200 day simple moving average of $99.09. The firm has a market cap of $10.29 billion, a PE ratio of 24.64 and a beta of 0.77.

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

DT Midstream Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream’s payout ratio is presently 89.37%.

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.