Cohen & Steers Inc. Lowers Stock Position in DT Midstream, Inc. (NYSE:DTM)

Cohen & Steers Inc. lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 69.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,636 shares of the company's stock after selling 43,309 shares during the period. Cohen & Steers Inc.'s holdings in DT Midstream were worth $1,853,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in DT Midstream during the 3rd quarter worth $29,000. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the period. AdvisorNet Financial Inc raised its stake in DT Midstream by 106.7% in the fourth 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 lifted its position in DT Midstream by 93.7% during the fourth 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. Finally, UMB Bank n.a. increased its stake 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 acquiring an additional 167 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 38,653 shares of the company's stock, valued at $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. 0.04% of the stock is currently owned by corporate insiders.

DT Midstream Stock Performance

DTM traded up $1.28 during trading hours on Friday, hitting $96.84. The stock had a trading volume of 887,944 shares, compared to its average volume of 851,104. The stock has a market cap of $9.84 billion, a PE ratio of 23.56 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company's fifty day simple moving average is $95.35 and its 200 day simple moving average is $97.50. DT Midstream, Inc. has a 1 year low of $61.01 and a 1 year high of $114.50.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were 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 was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. DT Midstream's dividend payout ratio (DPR) is presently 91.11%.

Wall Street Analyst Weigh In

DTM has been the subject of several recent analyst reports. UBS Group upped their target price on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Stifel Nicolaus decreased their target price 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. JPMorgan Chase & Co. raised their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. US Capital Advisors upgraded shares of DT Midstream from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Finally, Morgan Stanley raised their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $104.67.

DT Midstream Company 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.