Corebridge Financial Inc. Reduces Position in DT Midstream, Inc. (NYSE:DTM)

Corebridge Financial Inc. decreased its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 109,934 shares of the company's stock after selling 4,905 shares during the period. Corebridge Financial Inc. owned about 0.11% of DT Midstream worth $10,931,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in DTM. Louisiana State Employees Retirement System grew its stake in DT Midstream by 0.4% in the 4th 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 during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of DT Midstream by 15.0% in the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after purchasing an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock valued at $69,000 after purchasing an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of DT Midstream by 1.0% during 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 in the last quarter. Finally, Lakeshore Financial Planning Inc. raised its position in shares of DT Midstream by 4.2% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of brokerages have commented on DTM. Wells Fargo & Company lowered their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Stifel Nicolaus decreased their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price 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. UBS Group raised their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Williams Trading set a $110.00 price target on shares of DT Midstream in a report on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $105.08.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders purchased 1,170 shares of company stock valued at $103,357 over the last quarter. Company insiders own 0.04% of the company's stock.

DT Midstream Stock Down 0.3 %

Shares of NYSE:DTM traded down $0.25 during midday trading on Monday, hitting $96.51. 1,429,275 shares of the company's stock traded hands, compared to its average volume of 824,827. The firm's fifty day moving average price is $98.71 and its two-hundred day moving average price is $96.20. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a twelve month low of $60.54 and a twelve month high of $114.50. The company has a market cap of $9.80 billion, a PE ratio of 23.48 and a beta of 0.80.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's payout ratio is currently 91.11%.

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.