Brandywine Global Investment Management LLC Reduces Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Brandywine Global Investment Management LLC lessened its stake in DT Midstream, Inc. (NYSE:DTM) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,319 shares of the company’s stock after selling 1,791 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in DT Midstream were worth $2,617,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position 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 in the last quarter. State Street Corp boosted its position in DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares in the last quarter. Norges Bank purchased a new stake in shares of DT Midstream during the fourth quarter worth about $119,520,000. Finally, Brookfield Corp ON lifted its stake in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after acquiring an additional 655,695 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the topic of several analyst reports. Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Williams Trading set a $110.00 price target on shares of DT Midstream in a report on Monday, March 24th. Raymond James raised their price objective 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. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company decreased their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $105.08.

DT Midstream Stock Up 1.5 %

DT Midstream stock opened at $99.57 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a one year low of $61.01 and a one year high of $114.50. The company has a 50-day simple moving average of $98.16 and a 200-day simple moving average of $96.37. The firm has a market capitalization of $10.12 billion, a P/E ratio of 24.23 and a beta of 0.80.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.29%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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 in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last 90 days, insiders have acquired 1,170 shares of company stock valued at $103,357. Insiders own 0.04% of the company’s stock.

About DT Midstream

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.