Franklin Resources Inc. Decreases Stock Position in DT Midstream, Inc. (NYSE:DTM)

Franklin Resources Inc. lessened its position in shares of DT Midstream, Inc. (NYSE:DTM) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,014,000 shares of the company’s stock after selling 122,196 shares during the period. Franklin Resources Inc. owned 1.04% of DT Midstream worth $100,822,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DTM. AdvisorNet Financial Inc raised its stake in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC increased its stake in shares of DT Midstream by 93.7% in 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. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the third quarter valued at approximately $29,000. UMB Bank n.a. raised its position in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after purchasing an additional 167 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of DT Midstream during the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the topic of several recent research reports. Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 target price on the stock. UBS Group increased their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Raymond James lifted their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group increased their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Finally, Morgan Stanley boosted their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $105.08.

Insiders Place Their Bets

In other 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 shares were bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 1,170 shares of company stock valued at $103,357 over the last 90 days. Insiders own 0.04% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $99.57 on Thursday. DT Midstream, Inc. has a one year low of $61.01 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $10.12 billion, a price-to-earnings ratio of 24.23 and a beta of 0.80. The company’s fifty day moving average price is $98.16 and its 200-day moving average price is $96.37.

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 given a dividend of $0.82 per share. This is an increase 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 yield of 3.29%. DT Midstream’s dividend payout ratio (DPR) is presently 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.