DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Hancock Whitney Corp

Hancock Whitney Corp raised its holdings in DT Midstream, Inc. (NYSE:DTM) by 41.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,522 shares of the company’s stock after purchasing an additional 3,088 shares during the quarter. Hancock Whitney Corp’s holdings in DT Midstream were worth $1,046,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank purchased a new position in shares of DT Midstream during the fourth quarter worth about $119,520,000. Bank of Montreal Can grew its stake in shares of DT Midstream by 733.3% in the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock valued at $45,617,000 after purchasing an additional 403,730 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after purchasing an additional 386,670 shares during the period. Vanguard Group Inc. raised its stake in shares of DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after purchasing an additional 359,017 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock worth $147,942,000 after purchasing an additional 294,583 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Down 0.1 %

Shares of DTM stock opened at $98.80 on Friday. 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 quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The business has a fifty day simple moving average of $94.97 and a 200-day simple moving average of $97.97. The stock has a market cap of $10.04 billion, a P/E ratio of 24.04 and a beta of 0.77.

DT Midstream Increases Dividend

The firm 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. The ex-dividend date was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.32%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is presently 91.11%.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays dropped their price objective on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Wells Fargo & Company cut their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Raymond James increased their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus decreased 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $104.67.

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.