Capital Research Global Investors Trims Stake in DT Midstream, Inc. (NYSE:DTM)

Capital Research Global Investors cut its position in shares of DT Midstream, Inc. (NYSE:DTM) by 0.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,132,307 shares of the company’s stock after selling 168 shares during the period. Capital Research Global Investors owned approximately 1.17% of DT Midstream worth $112,585,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. Bessemer Group Inc. grew its stake in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after buying an additional 117 shares during the last quarter. AdvisorNet Financial Inc boosted its stake in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC grew its holdings in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream in the 3rd quarter worth about $29,000. Finally, UMB Bank n.a. lifted its holdings in DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after buying an additional 167 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

DT Midstream Price Performance

Shares of NYSE DTM opened at $96.84 on Monday. DT Midstream, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $114.50. The company has a market cap of $9.84 billion, a PE ratio of 23.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The business has a 50-day simple moving average of $95.35 and a two-hundred day simple moving average of $97.72.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is currently 91.11%.

Analysts Set New Price Targets

DTM has been the topic of a number of research reports. Bank of America began coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 target price on the stock. US Capital Advisors raised DT Midstream from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. UBS Group lifted their price objective on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Morgan Stanley increased their target price on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus target price of $104.67.

DT Midstream Company 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.