Bank of Montreal Can increased its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 733.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 458,789 shares of the company's stock after buying an additional 403,730 shares during the quarter. Bank of Montreal Can owned about 0.47% of DT Midstream worth $45,617,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream during the third quarter worth about $29,000. AdvisorNet Financial Inc raised its position in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC lifted its holdings in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after acquiring an additional 163 shares during the last quarter. UMB Bank n.a. grew its position in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after acquiring an additional 167 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in DT Midstream in the fourth quarter valued at $50,000. 81.53% of the stock is owned by institutional investors and hedge funds.
DT Midstream Stock Performance
Shares of DTM stock traded up $1.80 during mid-day trading on Tuesday, hitting $96.12. 244,412 shares of the stock were exchanged, compared to its average volume of 1,183,861. The stock's fifty day simple moving average is $95.75 and its two-hundred day simple moving average is $97.28. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 23.39 and a beta of 0.77.
DT Midstream Increases Dividend
The firm also recently declared 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.41%. 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 Buying and Selling
In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 1,170 shares of company stock valued at $103,357 over the last quarter. 0.04% of the stock is currently owned by insiders.
Analyst Ratings Changes
DTM has been the subject of several research reports. UBS Group boosted their target price on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. 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. Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday, March 24th. Finally, Barclays reduced their price target on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $104.67.
Check Out Our Latest Stock Analysis on DTM
DT Midstream Company Profile
(
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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