Alliancebernstein L.P. Has $16.39 Million Stake in DT Midstream, Inc. (NYSE:DTM)

Alliancebernstein L.P. grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 26.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 164,879 shares of the company’s stock after acquiring an additional 34,958 shares during the quarter. Alliancebernstein L.P.’s holdings in DT Midstream were worth $16,394,000 as of its most recent filing with the Securities & Exchange Commission.

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

DT Midstream Price Performance

Shares of NYSE:DTM opened at $88.49 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. The firm has a market cap of $8.99 billion, a PE ratio of 21.53 and a beta of 0.77. The firm’s fifty day moving average is $96.70 and its 200-day moving average is $96.79.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is 91.11%.

Analyst Ratings Changes

Several research firms have weighed in on DTM. Stifel Nicolaus cut their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. UBS Group lifted their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Williams Trading set a $110.00 target price on shares of DT Midstream in a report on Monday, March 24th. Finally, Morgan Stanley lifted their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus target price of $105.08.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were bought at an average cost 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 $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders purchased 1,170 shares of company stock worth $103,357 over the last ninety days. 0.04% of the stock is 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.