Sequoia Financial Advisors LLC Acquires 184 Shares of DT Midstream, Inc. (NYSE:DTM)

Sequoia Financial Advisors LLC increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,266 shares of the company’s stock after acquiring an additional 184 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in DT Midstream were worth $822,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream during the third quarter worth $29,000. AdvisorNet Financial Inc increased its position in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its position in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group purchased a new stake in DT Midstream in the third quarter worth $40,000. Finally, UMB Bank n.a. increased its position 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 buying an additional 167 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on DTM. UBS Group began coverage on DT Midstream in a research report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 target price for the company. Stifel Nicolaus decreased their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Raymond James raised their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.00.

DT Midstream Price Performance

Shares of NYSE DTM opened at $96.02 on Monday. The firm has a market capitalization of $9.73 billion, a P/E ratio of 23.36 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock’s 50-day simple moving average is $100.78 and its two-hundred day simple moving average is $94.52. DT Midstream, Inc. has a twelve month low of $57.45 and a twelve month high of $114.50.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. 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 yield of 3.42%. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is currently 91.11%.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have acquired 1,170 shares of company stock worth $103,357 in the last ninety days. 0.04% of the stock is currently owned by insiders.

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.