DT Midstream, Inc. (NYSE:DTM) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 10.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,014,000 shares of the company's stock after selling 122,196 shares during the period. Franklin Resources Inc. owned about 1.04% of DT Midstream worth $100,822,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of DTM. Vanguard Group Inc. grew its stake in DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after purchasing an additional 359,017 shares in the last quarter. State Street Corp boosted its stake in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company's stock valued at $268,757,000 after buying an additional 202,447 shares during the period. Geode Capital Management LLC grew its position in shares of DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company's stock worth $162,567,000 after buying an additional 85,462 shares in the last quarter. Norges Bank purchased a new stake in shares of DT Midstream during the fourth quarter worth approximately $119,520,000. Finally, Brookfield Corp ON raised its holdings in DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after acquiring an additional 655,695 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

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Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DTM. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, January 24th. UBS Group lifted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. Wells Fargo & Company dropped their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus cut their price objective on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream presently has an average rating of "Hold" and a consensus price target of $105.08.

DT Midstream Stock Performance

DTM stock traded up $0.95 during trading on Monday, hitting $88.18. The company had a trading volume of 803,766 shares, compared to its average volume of 834,914. The firm has a 50-day moving average price of $97.33 and a 200-day moving average price of $96.69. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $8.96 billion, a PE ratio of 21.52 and a beta of 0.77. DT Midstream, Inc. has a 1-year low of $61.01 and a 1-year high of $114.50.

DT Midstream Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.72%. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's payout ratio is presently 91.11%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now owns 38,653 shares of the company's stock, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 1,170 shares of company stock worth $103,357 over the last 90 days. 0.04% of the stock is currently owned by insiders.

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.