Kayne Anderson Capital Advisors LP Trims Position in DT Midstream, Inc. (NYSE:DTM)

Kayne Anderson Capital Advisors LP decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 678,536 shares of the company’s stock after selling 13,893 shares during the period. DT Midstream makes up approximately 1.6% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 17th largest position. Kayne Anderson Capital Advisors LP’s holdings in DT Midstream were worth $67,467,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in DTM. Wellington Management Group LLP increased its holdings in shares of DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after purchasing an additional 100,825 shares during the period. Friedenthal Financial acquired a new position in DT Midstream in the 4th quarter valued at $764,000. Truist Financial Corp purchased a new position in DT Midstream during the 4th quarter worth $771,000. Atria Investments Inc acquired a new stake in shares of DT Midstream in the 3rd quarter worth $666,000. Finally, Bridgewater Associates LP boosted its holdings in DT Midstream by 57.6% in the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after purchasing an additional 67,725 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DTM. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Stifel Nicolaus dropped their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. The Goldman Sachs Group boosted 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. Finally, JPMorgan Chase & Co. boosted their price objective 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and a consensus target price of $102.00.

DT Midstream Price Performance

NYSE:DTM opened at $89.89 on Wednesday. DT Midstream, Inc. has a 12-month low of $57.16 and a 12-month high of $114.50. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 21.87 and a beta of 0.80. The company’s 50-day moving average is $101.22 and its two-hundred day moving average is $94.14. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.65%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

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.