Bank of Montreal Can Purchases 403,730 Shares of DT Midstream, Inc. (NYSE:DTM)

Bank of Montreal Can boosted its position in DT Midstream, Inc. (NYSE:DTM) by 733.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 458,789 shares of the company’s stock after acquiring an additional 403,730 shares during the period. Bank of Montreal Can owned 0.47% of DT Midstream worth $45,617,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after buying an additional 100,825 shares in the last quarter. Friedenthal Financial purchased a new position in DT Midstream during the 4th quarter valued at about $764,000. Truist Financial Corp purchased a new position in DT Midstream during the 4th quarter valued at about $771,000. State Street Corp grew its holdings in DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in DT Midstream during the 3rd quarter valued at about $877,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 4.9 %

Shares of DTM opened at $93.07 on Thursday. The firm has a market cap of $9.46 billion, a P/E ratio of 22.64 and a beta of 0.77. The stock has a 50 day simple moving average of $96.34 and a two-hundred day simple moving average of $96.86. 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 1 year low of $61.01 and a 1 year high of $114.50.

DT Midstream Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.52%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 91.11%.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought a total of 1,170 shares of company stock valued at $103,357 over the last quarter. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Raymond James lifted their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Barclays cut their price objective on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Morgan Stanley boosted their price objective on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Finally, Bank of America started coverage on DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 price objective for the company. Two investment 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.