LPL Financial LLC Buys 15,733 Shares of DT Midstream, Inc. (NYSE:DTM)

LPL Financial LLC increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 23.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,602 shares of the company's stock after acquiring an additional 15,733 shares during the period. LPL Financial LLC owned approximately 0.08% of DT Midstream worth $8,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DTM. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream in the 3rd quarter worth about $29,000. AdvisorNet Financial Inc raised its holdings in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC raised its holdings in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after buying an additional 163 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after buying an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of DT Midstream during the fourth quarter valued at 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 DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 1,170 shares of company stock worth $103,357 in the last quarter. 0.04% of the stock is owned by corporate insiders.

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DT Midstream Price Performance

Shares of DTM traded down $3.03 during midday trading on Thursday, hitting $90.03. 874,162 shares of the company traded hands, compared to its average volume of 844,685. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week 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 firm has a 50 day moving average of $96.11 and a 200-day moving average of $96.94. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of 21.90 and a beta of 0.77.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.82 per share. The ex-dividend date 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 yield of 3.64%. DT Midstream's dividend payout ratio is presently 91.11%.

Analyst Ratings Changes

A number of brokerages recently weighed in on DTM. The Goldman Sachs Group boosted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. upped their price target on DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Barclays reduced their price objective on DT Midstream from $112.00 to $107.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. Morgan Stanley boosted their target price on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company cut their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $105.08.

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.