Connor Clark & Lunn Investment Management Ltd. increased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 89,979 shares of the company's stock after acquiring an additional 6,883 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of DT Midstream worth $8,947,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. AdvisorNet Financial Inc boosted its stake in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its holdings in 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 acquiring an additional 163 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the 3rd quarter worth about $29,000. UMB Bank n.a. lifted 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 worth $48,000 after purchasing an additional 167 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in DT Midstream during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 81.53% of the company's stock.
Insider Buying and Selling at DT Midstream
In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 1,170 shares of company stock valued at $103,357. Company insiders own 0.04% of the company's stock.
DT Midstream Stock Performance
DT Midstream stock traded up $2.72 during mid-day trading on Wednesday, hitting $98.80. 1,099,415 shares of the company's stock traded hands, compared to its average volume of 765,694. DT Midstream, Inc. has a one year low of $57.50 and a one year high of $114.50. The company has a market cap of $10.01 billion, a PE ratio of 24.04 and a beta of 0.80. The firm has a 50 day moving average price of $100.51 and a 200 day moving average price of $94.78. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.
DT Midstream Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio is currently 91.11%.
Analyst Upgrades and Downgrades
DTM has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. Barclays began coverage on shares of DT Midstream in a research report on Friday, January 10th. They issued an "equal weight" rating and a $112.00 price target on the stock. UBS Group began coverage on shares of DT Midstream in a research report on Wednesday, March 12th. They set a "buy" rating and a $102.00 price objective for the company. Stifel Nicolaus cut their target price on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and upped their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $102.00.
Read Our Latest Stock Analysis on DT Midstream
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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