Truist Financial Corp Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Truist Financial Corp bought a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,756 shares of the company's stock, valued at approximately $771,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company's stock valued at $63,396,000 after purchasing an additional 754,839 shares during the last quarter. Brookfield Corp ON lifted its position in DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after acquiring an additional 655,695 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake 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 in the last quarter. State Street Corp increased its stake 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. Finally, Point72 Asset Management L.P. bought a new stake in DT Midstream during the third quarter worth about $8,320,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Trading Up 0.4 %

Shares of DTM traded up $0.41 during trading hours on Wednesday, hitting $93.65. The company had a trading volume of 1,288,113 shares, compared to its average volume of 736,125. The stock's 50 day moving average price is $102.13 and its 200 day moving average price is $93.66. DT Midstream, Inc. has a 52-week low of $57.16 and a 52-week high of $114.50. 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 market cap of $9.49 billion, a P/E ratio of 22.79 and a beta of 0.79.

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DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.50%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTM. Wells Fargo & Company dropped their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and raised their price objective for the company from $90.00 to $115.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Finally, Stifel Nicolaus reduced their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, DT Midstream has an average rating of "Hold" and an average 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.