Intech Investment Management LLC Buys New Stake in DT Midstream, Inc. (NYSE:DTM)

Intech Investment Management LLC bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,044 shares of the company’s stock, valued at approximately $999,000.

Several other institutional investors also recently bought and sold shares of DTM. Thrivent Financial for Lutherans grew its stake in shares of DT Midstream by 55.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company’s stock worth $3,536,000 after buying an additional 12,755 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of DT Midstream in the 4th quarter worth $764,000. Parallel Advisors LLC grew its stake in shares of DT Midstream by 5.9% in the 4th quarter. Parallel Advisors LLC now owns 5,985 shares of the company’s stock worth $595,000 after buying an additional 335 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of DT Midstream by 8.3% in the 4th quarter. Corient Private Wealth LLC now owns 22,587 shares of the company’s stock worth $2,246,000 after buying an additional 1,738 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of DT Midstream by 8.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,972 shares of the company’s stock worth $594,000 after buying an additional 477 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This 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 purchased 1,170 shares of company stock worth $103,357 in the last 90 days. 0.04% of the stock is owned by corporate insiders.

DT Midstream Trading Down 2.4 %

Shares of DTM opened at $96.88 on Friday. DT Midstream, Inc. has a 1-year low of $59.00 and a 1-year high of $114.50. The company has a 50-day moving average of $100.10 and a 200 day moving average of $95.09. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. 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 3.39%. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Raymond James raised their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. UBS Group began coverage on shares of DT Midstream in a report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 target price for the company. Finally, Wells Fargo & Company lowered their target price 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.50.

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.