Burkehill Global Management LP Invests $12.43 Million in DT Midstream, Inc. (NYSE:DTM)

Burkehill Global Management LP acquired a new stake in DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 125,000 shares of the company’s stock, valued at approximately $12,429,000. DT Midstream comprises approximately 1.2% of Burkehill Global Management LP’s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds and other institutional investors have also modified their holdings of DTM. AdvisorNet Financial Inc grew its stake in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after buying an additional 163 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream in the third quarter valued at $29,000. UMB Bank n.a. increased its holdings in DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after buying an additional 167 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in DT Midstream during the fourth quarter worth $50,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was purchased 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 of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 1,170 shares of company stock worth $103,357. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

DTM has been the subject of a number of recent analyst reports. The Goldman Sachs Group increased their price target on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. UBS Group assumed coverage on shares of DT Midstream in a research note on Wednesday. They issued a “buy” rating and a $102.00 target price for the company. Barclays initiated coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company reduced their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $102.00.

DT Midstream Stock Performance

DTM opened at $93.59 on Thursday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day simple moving average of $101.10 and a 200 day simple moving average of $94.14. DT Midstream, Inc. has a 1 year low of $57.16 and a 1 year high of $114.50. The company has a market capitalization of $9.49 billion, a PE ratio of 22.77 and a beta of 0.80.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is presently 91.11%.

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.