CIBC Private Wealth Group LLC Has $42.59 Million Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

CIBC Private Wealth Group LLC cut its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 402,703 shares of the company's stock after selling 11,443 shares during the quarter. CIBC Private Wealth Group LLC owned 0.41% of DT Midstream worth $42,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its position in shares of DT Midstream by 129.3% during the fourth quarter. California Public Employees Retirement System now owns 411,609 shares of the company's stock valued at $40,926,000 after purchasing an additional 232,116 shares during the period. Dorsey Wright & Associates increased its holdings in DT Midstream by 0.4% in the 4th quarter. Dorsey Wright & Associates now owns 60,400 shares of the company's stock valued at $6,006,000 after buying an additional 212 shares during the period. Strategy Asset Managers LLC acquired a new position in shares of DT Midstream in the 4th quarter valued at $211,000. Pictet Asset Management Holding SA lifted its holdings in shares of DT Midstream by 1,576.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 209,977 shares of the company's stock worth $20,878,000 after acquiring an additional 197,449 shares during the period. Finally, Duff & Phelps Investment Management Co. boosted its position in shares of DT Midstream by 43.4% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 388,578 shares of the company's stock valued at $38,636,000 after acquiring an additional 117,511 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have commented on DTM. JPMorgan Chase & Co. raised their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Stifel Nicolaus cut their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. UBS Group upped their price target on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday, March 24th. Finally, The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 19th. 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, the stock currently has a consensus rating of "Hold" and a consensus target price of $105.08.

DT Midstream Price Performance

DTM traded up $1.49 during midday trading on Wednesday, hitting $99.57. The company had a trading volume of 891,942 shares, compared to its average volume of 827,166. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The company has a market capitalization of $10.12 billion, a PE ratio of 24.23 and a beta of 0.80. 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 firm's 50-day simple moving average is $98.40 and its 200-day simple moving average is $96.35.

DT Midstream Increases Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.29%. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders purchased 1,170 shares of company stock worth $103,357 in the last quarter. Insiders own 0.04% of the company's stock.

DT Midstream 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.