Bank of New York Mellon Corp reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,051,508 shares of the company's stock after selling 13,885 shares during the quarter. Bank of New York Mellon Corp owned 1.08% of DT Midstream worth $104,551,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream during the 3rd quarter valued at approximately $29,000. AdvisorNet Financial Inc increased its stake in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its holdings in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group purchased a new position in DT Midstream during the third quarter worth approximately $40,000. Finally, UMB Bank n.a. grew its holdings in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after purchasing an additional 167 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.
DT Midstream Price Performance
NYSE DTM traded up $0.41 during trading hours on Wednesday, hitting $93.65. 1,288,113 shares of the company's stock traded hands, compared to its average volume of 736,125. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm's 50-day moving average is $102.13 and its 200-day moving average 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 market capitalization of $9.49 billion, a PE ratio of 22.79 and a beta of 0.79.
DT Midstream Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given 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 is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.50%. DT Midstream's dividend payout ratio (DPR) is presently 91.11%.
Wall Street Analyst Weigh In
DTM has been the subject of several research analyst reports. Barclays assumed coverage on DT Midstream in a research note on Friday, January 10th. They set an "equal weight" rating and a $112.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their target price 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. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, DT Midstream presently has an average rating of "Hold" and a consensus price target of $102.00.
Read Our Latest Analysis on DT Midstream
DT Midstream 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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