Nemes Rush Group LLC Grows Holdings in DT Midstream, Inc. (NYSE:DTM)

Nemes Rush Group LLC boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 64.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,150 shares of the company’s stock after acquiring an additional 450 shares during the period. Nemes Rush Group LLC’s holdings in DT Midstream were worth $63,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DTM. Dimensional Fund Advisors LP increased its position in DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after buying an additional 266,433 shares in the last quarter. International Assets Investment Management LLC bought a new position in DT Midstream in the 4th quarter worth about $815,000. Mariner LLC grew its position in DT Midstream by 10.6% during the 3rd quarter. Mariner LLC now owns 20,790 shares of the company’s stock valued at $1,100,000 after purchasing an additional 1,985 shares during the last quarter. JPMorgan Chase & Co. increased its stake in DT Midstream by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after purchasing an additional 39,059 shares in the last quarter. Finally, Comerica Bank raised its holdings in DT Midstream by 11,073.2% in the third quarter. Comerica Bank now owns 86,257 shares of the company’s stock worth $4,565,000 after buying an additional 85,485 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell acquired 400 shares of DT Midstream stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $62.80 per share, with a total value of $25,120.00. Following the purchase, the chief financial officer now directly owns 44,285 shares in the company, valued at approximately $2,781,098. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other DT Midstream news, CFO Jeffrey A. Jewell bought 400 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $62.80 per share, with a total value of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the purchase, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Mizuho upped their price target on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Stifel Nicolaus lifted their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Barclays upped their price objective on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.50.

DT Midstream Price Performance

NYSE:DTM traded down $0.70 during trading hours on Wednesday, hitting $66.05. 111,435 shares of the stock traded hands, compared to its average volume of 663,626. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 16.14 and a beta of 0.72. DT Midstream, Inc. has a 1 year low of $45.20 and a 1 year high of $67.38. The stock has a 50 day moving average price of $62.55 and a 200 day moving average price of $57.76. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.04. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. The company had revenue of $240.00 million for the quarter, compared to the consensus estimate of $242.62 million. During the same quarter last year, the company earned $0.84 EPS. Sell-side analysts forecast that DT Midstream, Inc. will post 3.92 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a $0.735 dividend. The ex-dividend date is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a yield of 4.45%. DT Midstream’s dividend payout ratio is currently 71.71%.

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.