KLP Kapitalforvaltning AS Purchases Shares of 20,100 DT Midstream, Inc. (NYSE:DTM)

KLP Kapitalforvaltning AS acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 20,100 shares of the company’s stock, valued at approximately $2,011,000.

Other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System grew its holdings in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock valued at $2,685,000 after buying an additional 100 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of DT Midstream by 15.0% in the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after acquiring an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of DT Midstream by 17.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after acquiring an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in DT Midstream by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock worth $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. raised its stake in DT Midstream by 4.2% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock valued at $285,000 after purchasing an additional 116 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Price Performance

DTM stock opened at $97.15 on Friday. The company has a market cap of $9.87 billion, a PE ratio of 23.64 and a beta of 0.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $99.35 and a two-hundred day moving average price of $95.60. DT Midstream, Inc. has a 12-month low of $59.50 and a 12-month high of $114.50.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is presently 91.11%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 1,170 shares of company stock valued at $103,357. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America began coverage on shares of DT Midstream in a research note on Monday. They set a “buy” rating and a $110.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Stifel Nicolaus lowered their price objective 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. Finally, Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $105.08.

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.