Reaves W H & Co. Inc. Buys 74,329 Shares of DT Midstream, Inc. (NYSE:DTM)

Reaves W H & Co. Inc. lifted its stake in DT Midstream, Inc. (NYSE:DTM) by 8.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 981,879 shares of the company’s stock after purchasing an additional 74,329 shares during the quarter. DT Midstream comprises about 2.6% of Reaves W H & Co. Inc.’s holdings, making the stock its 16th biggest position. Reaves W H & Co. Inc.’s holdings in DT Midstream were worth $97,628,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream in the third quarter worth about $29,000. AdvisorNet Financial Inc raised its stake in shares of DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC grew 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 worth $34,000 after purchasing an additional 163 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of DT Midstream during the third quarter worth about $40,000. Finally, UMB Bank n.a. grew its position in shares of DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on DTM shares. The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. 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 report on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and increased their target price for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Finally, Wells Fargo & Company cut their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $102.00.

DT Midstream Stock Performance

NYSE DTM opened at $94.52 on Tuesday. The stock has a market capitalization of $9.58 billion, a PE ratio of 23.00 and a beta of 0.79. The business has a 50 day simple moving average of $102.49 and a two-hundred day simple moving average of $93.53. 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 $57.16 and a 1-year high of $114.50.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.47%. DT Midstream’s payout ratio is 91.11%.

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.