Duff & Phelps Investment Management Co. Acquires 117,511 Shares of DT Midstream, Inc. (NYSE:DTM)

Duff & Phelps Investment Management Co. increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 43.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 388,578 shares of the company's stock after purchasing an additional 117,511 shares during the quarter. Duff & Phelps Investment Management Co. owned approximately 0.40% of DT Midstream worth $38,636,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. AdvisorNet Financial Inc boosted its stake in shares of DT Midstream by 106.7% during the 4th 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% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after acquiring an additional 163 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream during the third quarter valued at approximately $29,000. UMB Bank n.a. grew its stake in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in DT Midstream in the fourth quarter valued at approximately $50,000. Institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of NYSE:DTM traded up $0.27 on Tuesday, reaching $96.75. 189,260 shares of the company's stock were exchanged, compared to its average volume of 822,375. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a twelve month low of $60.54 and a twelve month high of $114.50. The company has a fifty day moving average of $98.71 and a 200-day moving average of $96.20. The company has a market capitalization of $9.83 billion, a price-to-earnings ratio of 23.62 and a beta of 0.80.

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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 issued a $0.82 dividend. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.39%. DT Midstream's payout ratio is currently 91.11%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last three months, insiders have purchased 1,170 shares of company stock valued at $103,357. 0.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on DTM. JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday, March 24th. Stifel Nicolaus decreased their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Barclays dropped their price target on DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Finally, The Goldman Sachs Group upped their price objective 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 given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, DT Midstream has a consensus rating of "Hold" and a consensus price target of $105.08.

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.