Quantinno Capital Management LP Boosts Holdings in DT Midstream, Inc. (NYSE:DTM)

Quantinno Capital Management LP raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 49.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,404 shares of the company’s stock after acquiring an additional 1,796 shares during the quarter. Quantinno Capital Management LP’s holdings in DT Midstream were worth $537,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Man Group plc purchased a new position in DT Midstream during the 4th quarter valued at about $999,000. Nomura Holdings Inc. purchased a new stake in shares of DT Midstream during the fourth quarter worth about $1,282,000. Nuveen Asset Management LLC grew its holdings in shares of DT Midstream by 27.6% during the fourth quarter. Nuveen Asset Management LLC now owns 223,301 shares of the company’s stock worth $22,203,000 after buying an additional 48,264 shares in the last quarter. Moore Capital Management LP purchased a new stake in shares of DT Midstream during the fourth quarter worth about $7,117,000. Finally, Lazard Asset Management LLC grew its holdings in shares of DT Midstream by 27.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,535 shares of the company’s stock worth $152,000 after buying an additional 333 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of recent research reports. Barclays lifted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 20th. Bank of America initiated coverage on shares of DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 price target for the company. UBS Group lifted their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Morgan Stanley lifted their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Finally, Wells Fargo & Company lowered their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and a consensus price target of $108.36.

DT Midstream Price Performance

DTM opened at $104.09 on Friday. The company’s 50 day simple moving average is $97.78 and its 200 day simple moving average is $99.91. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a 1 year low of $65.45 and a 1 year high of $114.50. The stock has a market capitalization of $10.57 billion, a PE ratio of 25.33 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its earnings results 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 return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. During the same period in the prior year, the business posted $0.99 earnings per share. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.15%. DT Midstream’s dividend payout ratio is presently 89.37%.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have purchased 1,235 shares of company stock valued at $109,867. Insiders own 0.34% of the company’s stock.

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.