DT Midstream, Inc. (NYSE:DTM) Shares Sold by Covalis Capital LLP

Covalis Capital LLP lessened its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 52.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 112,034 shares of the company's stock after selling 122,786 shares during the quarter. DT Midstream comprises 1.6% of Covalis Capital LLP's portfolio, making the stock its 23rd largest position. Covalis Capital LLP owned approximately 0.12% of DT Midstream worth $11,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after purchasing an additional 386,670 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after purchasing an additional 294,583 shares in the last quarter. Norges Bank purchased a new stake in shares of DT Midstream during the fourth quarter valued at $119,520,000. Finally, Reaves W H & Co. Inc. increased its holdings in DT Midstream by 8.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company's stock worth $97,628,000 after buying an additional 74,329 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company's stock.

DT Midstream Stock Up 2.3 %

DTM stock traded up $2.19 during trading on Thursday, reaching $99.11. 210,288 shares of the company traded hands, compared to its average volume of 1,157,034. The business has a 50 day simple moving average of $95.06 and a 200 day simple moving average of $97.76. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. 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 company has a market capitalization of $10.07 billion, a price-to-earnings ratio of 24.11 and a beta of 0.77.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Monday, March 17th. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's payout ratio is 91.11%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wells Fargo & Company reduced their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Bank of America started coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective for the company. Finally, UBS Group lifted their target price on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $104.67.

About DT Midstream

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.