Alliancebernstein L.P. Has $16.39 Million Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Alliancebernstein L.P. boosted its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 26.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,879 shares of the company's stock after acquiring an additional 34,958 shares during the period. Alliancebernstein L.P. owned 0.17% of DT Midstream worth $16,394,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DTM. Vanguard Group Inc. lifted its position in shares of DT Midstream by 3.5% during the 4th 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 during the last quarter. State Street Corp lifted its holdings in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after buying an additional 202,447 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $162,567,000 after buying an additional 85,462 shares during the last quarter. Norges Bank bought a new stake in shares of DT Midstream in the fourth quarter valued at approximately $119,520,000. Finally, Reaves W H & Co. Inc. grew its stake in shares of DT Midstream by 8.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company's stock worth $97,628,000 after acquiring an additional 74,329 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

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DT Midstream Price Performance

NYSE:DTM traded up $1.41 during trading hours on Monday, reaching $94.19. The company had a trading volume of 87,022 shares, compared to its average volume of 843,794. 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 stock has a 50-day moving average of $95.93 and a two-hundred day moving average of $97.16. DT Midstream, Inc. has a one year low of $61.01 and a one year high of $114.50. The firm has a market capitalization of $9.57 billion, a PE ratio of 22.92 and a beta of 0.77.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.48%. DT Midstream's dividend payout ratio is presently 91.11%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. US Capital Advisors raised DT Midstream from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. Finally, Raymond James lifted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $104.67.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company's stock, 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 filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have bought 1,170 shares of company stock valued at $103,357. 0.04% of the stock is owned by insiders.

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.