BlackRock Amends DT Midstream Stake to 11.2% as of Dec 31, 2023
Ticker: DTM · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 1842022
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns 11.2% of DT Midstream, a strong institutional vote of confidence.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 24, 2024, disclosing its ownership in DT Midstream, Inc. As of December 31, 2023, BlackRock Inc. holds 10,767,557 shares of DT Midstream's common stock, representing 11.2% of the company. This filing indicates a significant institutional stake, which can be a vote of confidence for current and prospective shareholders, as large asset managers often conduct extensive due diligence.
Why It Matters
This filing shows BlackRock's continued significant investment in DT Midstream, signaling their ongoing belief in the company's value and potentially influencing other institutional investors.
Risk Assessment
Risk Level: low — This filing indicates stable institutional ownership by a major asset manager, which generally reduces perceived risk for investors.
Analyst Insight
A smart investor would view BlackRock's continued substantial ownership as a positive signal, suggesting confidence in DT Midstream's long-term prospects, and might consider further research into the company's fundamentals.
Key Numbers
- 10,767,557 — Shares Owned (The total number of DT Midstream common stock shares beneficially owned by BlackRock Inc. as of December 31, 2023.)
- 11.2% — Ownership Percentage (The percentage of DT Midstream's common stock that BlackRock Inc. beneficially owns, indicating a significant stake.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- DT Midstream, Inc. (company) — the subject company in which BlackRock holds shares
- 10,767,557 (dollar_amount) — number of shares of common stock beneficially owned by BlackRock
- 11.2% (dollar_amount) — percentage of DT Midstream's common stock owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 24, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant stake in DT Midstream, Inc. (BlackRock Inc.) — high confidence, target: Q4 2024
- DT Midstream's stock price will experience stability due to large institutional ownership. (DT Midstream, Inc.) — medium confidence, target: Q3 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person in this SC 13G/A filing is BlackRock Inc., as stated in the 'Names of reporting persons' section.
What is the name of the issuer whose securities are being reported?
The name of the issuer is DT Midstream, Inc., as specified under '(Name of Issuer)' in the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, according to the filing.
What type of securities does BlackRock Inc. hold in DT Midstream, Inc.?
BlackRock Inc. holds 'Common Stock' of DT Midstream, Inc., as indicated under '(Title of Class of Securities)'.
What is the CUSIP Number for the securities reported in this filing?
The CUSIP Number for the securities is 23345M107, as listed in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding DT Midstream, Inc. (DTM).