Strategy Asset Managers LLC Buys New Position in DT Midstream, Inc. (NYSE:DTM)

Strategy Asset Managers LLC purchased a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,125 shares of the company’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of DTM. Norges Bank bought a new stake in shares of DT Midstream in the 4th quarter worth approximately $119,520,000. FMR LLC increased its holdings in shares of DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares in the last quarter. Brookfield Corp ON increased its holdings in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after buying an additional 655,695 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after acquiring an additional 359,017 shares during the last quarter. Finally, Bahl & Gaynor Inc. acquired a new position in shares of DT Midstream in the 4th quarter worth $21,475,000. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, 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. Over the last quarter, insiders have bought 1,170 shares of company stock worth $103,357. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wells Fargo & Company dropped their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Barclays dropped their target price on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Williams Trading set a $110.00 price target on shares of DT Midstream in a report on Monday, March 24th. Bank of America started coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price objective on the stock. Finally, The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $105.08.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $96.89 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a one year low of $60.54 and a one year high of $114.50. The business’s 50-day moving average price is $99.03 and its two-hundred day moving average price is $95.90. The company has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.82 dividend. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. 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.