C M Bidwell & Associates Ltd. Reduces Stake in DT Midstream, Inc. (NYSE:DTM)

C M Bidwell & Associates Ltd. cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 35.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 755 shares of the company’s stock after selling 416 shares during the period. C M Bidwell & Associates Ltd.’s holdings in DT Midstream were worth $75,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream during the 3rd quarter valued at $29,000. AdvisorNet Financial Inc boosted its stake in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after buying an additional 163 shares during the period. UMB Bank n.a. raised 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 buying an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in DT Midstream in the fourth quarter worth about $50,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of DTM opened at $96.89 on Monday. 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, Inc. has a twelve month low of $60.54 and a twelve month high of $114.50. 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 firm has a 50 day moving average of $99.03 and a 200 day moving average of $96.05.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is currently 91.11%.

Insider Activity

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 stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired a total of 1,170 shares of company stock valued at $103,357 over the last ninety days. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DTM. Barclays reduced their target price on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Stifel Nicolaus reduced their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. UBS Group upped their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Raymond James increased their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $105.08.

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.