First Trust Advisors LP Sells 182,169 Shares of DT Midstream, Inc. (NYSE:DTM)

First Trust Advisors LP reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 18.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 788,757 shares of the company's stock after selling 182,169 shares during the quarter. First Trust Advisors LP owned 0.81% of DT Midstream worth $78,426,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in DTM. MML Investors Services LLC purchased a new position in DT Midstream in the third quarter valued at about $558,000. Barclays PLC boosted its stake in shares of DT Midstream by 3.7% during the 3rd quarter. Barclays PLC now owns 283,363 shares of the company's stock valued at $22,289,000 after buying an additional 10,074 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of DT Midstream by 14.6% during the third quarter. Sanctuary Advisors LLC now owns 4,695 shares of the company's stock worth $369,000 after buying an additional 597 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the third quarter worth $29,000. Finally, GAMMA Investing LLC raised its holdings in DT Midstream by 53.4% in the fourth quarter. GAMMA Investing LLC now owns 3,985 shares of the company's stock valued at $396,000 after acquiring an additional 1,388 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Performance

DTM stock traded down $0.11 during midday trading on Friday, hitting $98.80. 505,686 shares of the company traded hands, compared to its average volume of 848,235. The business has a 50 day simple moving average of $95.03 and a 200-day simple moving average of $97.86. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The stock has a market capitalization of $10.04 billion, a price-to-earnings ratio of 24.04 and a beta of 0.77.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.32%. The ex-dividend date was Monday, March 17th. This is an increase from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Insider Buying and Selling

In related 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their target price on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Williams Trading set a $110.00 target price on DT Midstream in a report on Monday, March 24th. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. US Capital Advisors upgraded DT Midstream from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Finally, Barclays decreased their price objective on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $104.67.

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.