Dynamic Technology Lab Private Ltd Buys New Shares in DT Midstream, Inc. (NYSE:DTM)

Dynamic Technology Lab Private Ltd bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,830 shares of the company's stock, valued at approximately $779,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream in the third quarter valued at approximately $29,000. AdvisorNet Financial Inc increased its position in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its stake in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. UMB Bank n.a. lifted its holdings in DT Midstream by 53.2% in the 4th 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 acquired a new stake in DT Midstream during the 4th quarter worth $50,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DTM. US Capital Advisors upgraded shares of DT Midstream from a "hold" rating to a "moderate buy" rating in a research report on Monday. UBS Group increased their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Morgan Stanley boosted their target price on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a report on Tuesday, March 25th. Williams Trading set a $110.00 price target on DT Midstream in a research report on Monday, March 24th. Finally, The Goldman Sachs Group upped their target price on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $105.08.

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DT Midstream Trading Up 1.3 %

DTM traded up $1.16 on Friday, hitting $91.21. The company had a trading volume of 256,735 shares, compared to its average volume of 1,191,840. The company's fifty day moving average price is $96.11 and its 200 day moving average price is $96.94. DT Midstream, Inc. has a 1 year low of $61.01 and a 1 year high of $114.50. 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 firm has a market cap of $9.27 billion, a P/E ratio of 22.13 and a beta of 0.77.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Monday, March 17th. DT Midstream's dividend 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 firm's stock in a transaction on Monday, March 10th. The shares were bought at an average cost 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 ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have purchased 1,170 shares of company stock worth $103,357. 0.04% of the stock is currently owned by insiders.

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.