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

Yaupon Capital Management LP acquired a new stake in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 202,376 shares of the company’s stock, valued at approximately $20,122,000.

A number of other institutional investors and hedge funds have also made changes to their positions in DTM. Bessemer Group Inc. raised its holdings in DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. AdvisorNet Financial Inc grew its stake in shares of 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 buying an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its stake in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream in the third quarter valued at $29,000. Finally, UMB Bank n.a. lifted its stake in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after acquiring an additional 167 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

NYSE:DTM opened at $93.05 on Tuesday. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 22.64 and a beta of 0.77. The company has a 50-day moving average of $95.24 and a 200-day moving average of $97.78. 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.52%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were bought 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 $3,359,718.76. This trade 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 this hyperlink. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DTM. Morgan Stanley boosted their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research report on Tuesday, March 25th. Stifel Nicolaus reduced their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Williams Trading set a $110.00 target price on DT Midstream in a report on Monday, March 24th. UBS Group increased their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Finally, US Capital Advisors upgraded shares of DT Midstream from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $104.67.

DT Midstream Company 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.