Bahl & Gaynor Inc. acquired a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 215,978 shares of the company's stock, valued at approximately $21,475,000. Bahl & Gaynor Inc. owned approximately 0.22% of DT Midstream as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of DTM. FMR LLC raised its holdings in shares of DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company's stock worth $63,396,000 after acquiring an additional 754,839 shares during the period. Brookfield Corp ON raised its holdings in shares of DT Midstream by 171.3% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock worth $90,978,000 after acquiring an additional 267,269 shares during the period. State Street Corp raised its holdings in shares of DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after acquiring an additional 202,447 shares during the period. Finally, Point72 Asset Management L.P. purchased a new position in shares of DT Midstream during the 3rd quarter worth $8,320,000. Hedge funds and other institutional investors own 81.53% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on DTM shares. The Goldman Sachs Group raised their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research report on Thursday, December 19th. Stifel Nicolaus cut their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays started coverage on DT Midstream in a research report on Friday, January 10th. They set an "equal weight" rating and a $112.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $102.00.
Check Out Our Latest Stock Report on DT Midstream
DT Midstream Trading Down 1.7 %
NYSE DTM traded down $1.49 during trading on Friday, hitting $88.16. The stock had a trading volume of 2,423,127 shares, compared to its average volume of 744,771. The company has a market capitalization of $8.94 billion, a PE ratio of 21.45 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $101.91 and a 200 day moving average price of $93.63. DT Midstream, Inc. has a twelve month low of $57.16 and a twelve month high of $114.50.
DT Midstream Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 is an increase from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.72%. DT Midstream's payout ratio is currently 91.11%.
About DT Midstream
(
Free Report)
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.
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