18,044 Shares in DT Midstream, Inc. (NYSE:DTM) Bought by Bernard Wealth Management Corp.

Bernard Wealth Management Corp. purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,044 shares of the company's stock, valued at approximately $1,794,000. DT Midstream accounts for approximately 1.3% of Bernard Wealth Management Corp.'s investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. increased its stake in shares of DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock worth $147,942,000 after purchasing an additional 294,583 shares in the last quarter. Bank of Montreal Can increased its position in DT Midstream by 733.3% in the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock worth $45,617,000 after buying an additional 403,730 shares in the last quarter. Cerity Partners LLC increased its position in DT Midstream by 18.3% in the fourth quarter. Cerity Partners LLC now owns 16,562 shares of the company's stock worth $1,566,000 after buying an additional 2,566 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of DT Midstream by 2.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 215,826 shares of the company's stock worth $21,460,000 after buying an additional 4,628 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of DT Midstream during the 4th quarter valued at about $779,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

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Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders bought 1,170 shares of company stock worth $103,357. 0.04% of the stock is currently owned by insiders.

DT Midstream Price Performance

Shares of NYSE:DTM traded up $2.53 during mid-day trading on Friday, reaching $92.58. The stock had a trading volume of 1,030,745 shares, compared to its average volume of 846,668. The business's 50 day moving average price is $95.93 and its 200 day moving average price is $97.16. DT Midstream, Inc. has a 1 year low of $61.01 and a 1 year high of $114.50. The company has a market cap of $9.41 billion, a P/E ratio of 22.53 and a beta of 0.77. 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.54%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream's dividend payout ratio is 91.11%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DTM shares. UBS Group raised their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. The Goldman Sachs Group raised their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research report on Thursday, December 19th. Raymond James lifted their target price 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. Morgan Stanley increased their price target on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Finally, Stifel Nicolaus lowered their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $104.67.

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.