California Public Employees Retirement System grew its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 129.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 411,609 shares of the company's stock after purchasing an additional 232,116 shares during the period. California Public Employees Retirement System owned about 0.42% of DT Midstream worth $40,926,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in DT Midstream during the third quarter worth about $29,000. AdvisorNet Financial Inc lifted its position in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC grew its holdings in shares of DT Midstream by 93.7% during 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 in the last quarter. UMB Bank n.a. increased its position in shares of DT Midstream by 53.2% during 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. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of DT Midstream in the fourth quarter valued at $50,000. Institutional investors own 81.53% of the company's stock.
Analyst Ratings Changes
DTM has been the topic of a number of recent research reports. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 19th. Wells Fargo & Company lowered their target price 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. UBS Group increased their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus dropped 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. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, DT Midstream presently has a consensus rating of "Hold" and an average price target of $105.08.
Check Out Our Latest Report on DT Midstream
Insider Buying and Selling
In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was purchased 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 of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased a total of 1,170 shares of company stock worth $103,357 in the last 90 days. Corporate insiders own 0.04% of the company's stock.
DT Midstream Price Performance
DT Midstream stock traded up $1.26 on Monday, reaching $88.49. The company's stock had a trading volume of 1,917,372 shares, compared to its average volume of 839,213. The business's fifty day moving average price is $97.16 and its 200 day moving average price is $96.78. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $8.99 billion, a price-to-earnings ratio of 21.53 and a beta of 0.77. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50.
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 issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.71%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's payout ratio is currently 91.11%.
About DT Midstream
(
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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