Wells Fargo & Company MN Acquires 4,841 Shares of DT Midstream, Inc. (NYSE:DTM)

Wells Fargo & Company MN increased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 53,756 shares of the company's stock after acquiring an additional 4,841 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of DT Midstream worth $5,345,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream during the 3rd quarter valued at $29,000. AdvisorNet Financial Inc raised its position in DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC lifted its stake in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after purchasing an additional 163 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of DT Midstream during the 4th quarter valued at about $50,000. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Raymond James boosted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research note on Monday, March 24th. Wells Fargo & Company reduced their target price on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. US Capital Advisors raised shares of DT Midstream from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Finally, Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $104.67.

DT Midstream Trading Up 1.3 %

Shares of DTM stock traded up $1.27 during trading hours on Wednesday, reaching $96.87. The company's stock had a trading volume of 821,681 shares, compared to its average volume of 849,583. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.77. The firm's fifty day simple moving average is $95.12 and its 200 day simple moving average is $97.76. DT Midstream, Inc. has a one year low of $61.01 and a one year high of $114.50.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a dividend of $0.82 per share. This is an increase from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, March 17th. DT Midstream's payout ratio is presently 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business's stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the transaction, 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 position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company's stock.

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.