Cookson Peirce & Co. Inc. Invests $991,000 in DT Midstream, Inc. (NYSE:DTM)

Cookson Peirce & Co. Inc. acquired a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,967 shares of the company's stock, valued at approximately $991,000.

A number of other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its position in shares of DT Midstream by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock valued at $2,685,000 after acquiring an additional 100 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock worth $76,000 after purchasing an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock worth $69,000 after purchasing an additional 105 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock worth $1,235,000 after purchasing an additional 116 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its position in shares of DT Midstream by 38.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company's stock valued at $51,000 after buying an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

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DT Midstream Trading Down 1.7 %

DTM stock traded down $1.49 during trading on Friday, hitting $88.16. The company had a trading volume of 2,423,127 shares, compared to its average volume of 746,078. DT Midstream, Inc. has a 52-week low of $57.16 and a 52-week high of $114.50. The company has a 50 day simple moving average of $101.68 and a 200-day simple moving average of $93.85. The firm has a market capitalization of $8.94 billion, a P/E ratio of 21.45 and a beta of 0.80. 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. Stockholders of record on Monday, March 17th will be given a dividend of $0.82 per share. 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. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.72%. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Wall Street Analyst Weigh In

Several brokerages have commented on DTM. Wells Fargo & Company decreased their price target 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. JPMorgan Chase & Co. boosted their target price on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, The Goldman Sachs Group raised their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $102.00.

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.