Axxcess Wealth Management LLC Buys New Holdings in DT Midstream, Inc. (NYSE:DTM)

Axxcess Wealth Management LLC acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,687 shares of the company's stock, valued at approximately $764,000.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of DT Midstream by 225.4% during the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company's stock valued at $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of DT Midstream in the 4th quarter worth approximately $764,000. Truist Financial Corp bought a new position in shares of DT Midstream in the fourth quarter valued at approximately $771,000. Bridgewater Associates LP increased its stake in shares of DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company's stock valued at $14,576,000 after acquiring an additional 67,725 shares during the period. Finally, State Street Corp raised its holdings in 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 purchasing an additional 202,447 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have purchased 1,170 shares of company stock worth $103,357. Insiders own 0.04% of the company's stock.

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DT Midstream Stock Down 0.5 %

NYSE DTM traded down $0.48 during trading on Tuesday, hitting $100.52. 997,464 shares of the company traded hands, compared to its average volume of 788,360. The company has a market capitalization of $10.21 billion, a P/E ratio of 24.46 and a beta of 0.80. The business has a fifty day simple moving average of $100.02 and a 200 day simple moving average of $95.39. DT Midstream, Inc. has a 12 month low of $59.00 and a 12 month high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid 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 of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.26%. DT Midstream's dividend payout ratio is presently 91.11%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DTM. UBS Group started coverage on DT Midstream in a research note on Wednesday, March 12th. They issued a "buy" rating and a $102.00 price objective on the stock. Morgan Stanley upped their target price on DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday. The Goldman Sachs Group lifted their price target on DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 19th. Raymond James upped their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Barclays cut their price target on shares of DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a report on Friday. Two equities 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $103.45.

DT Midstream Company 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.