Edgestream Partners L.P. Acquires Shares of 22,626 DT Midstream, Inc. (NYSE:DTM)

Edgestream Partners L.P. acquired a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 22,626 shares of the company's stock, valued at approximately $2,250,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its holdings in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock worth $2,685,000 after purchasing an additional 100 shares during the last quarter. Jones Financial Companies Lllp raised its stake in shares of DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock worth $76,000 after buying an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock valued at $69,000 after buying an additional 105 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock valued at $1,235,000 after acquiring an additional 116 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of DT Midstream by 38.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company's stock valued at $51,000 after purchasing an additional 141 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Remove Ads

DT Midstream Stock Down 0.2 %

Shares of NYSE:DTM traded down $0.20 during midday trading on Thursday, reaching $93.23. The company had a trading volume of 953,685 shares, compared to its average volume of 760,884. DT Midstream, Inc. has a 1-year low of $57.16 and a 1-year high of $114.50. The stock has a market cap of $9.45 billion, a PE ratio of 22.68 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 business's 50 day moving average price is $101.10 and its 200 day moving average price is $94.14.

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 paid 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 dividend yield of 3.52%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio is currently 91.11%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders purchased 1,170 shares of company stock valued at $103,357. 0.04% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on DTM. Barclays assumed coverage on DT Midstream in a report on Friday, January 10th. They issued an "equal weight" rating and a $112.00 price objective for the company. Stifel Nicolaus reduced their price objective on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Citigroup raised shares of DT Midstream from a "neutral" rating to a "buy" rating and upped their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. 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 note on Friday, January 24th. Finally, Wells Fargo & Company cut their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $102.00.

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.