Harvest Investment Services LLC Acquires New Holdings in DT Midstream, Inc. (NYSE:DTM)

Harvest Investment Services LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 4,691 shares of the company's stock, valued at approximately $466,000.

A number of other institutional investors have also made changes to their positions in the stock. Bessemer Group Inc. boosted its position in shares of DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the period. AdvisorNet Financial Inc boosted 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 buying an additional 160 shares during the period. Sound Income Strategies LLC grew its stake in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after buying an additional 163 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream in the 3rd quarter valued at $29,000. Finally, UMB Bank n.a. lifted its stake in DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after acquiring an additional 167 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of NYSE DTM opened at $95.44 on Wednesday. The stock's 50-day simple moving average is $95.12 and its 200-day simple moving average is $97.76. The firm has a market capitalization of $9.70 billion, a PE ratio of 23.22 and a beta of 0.77. DT Midstream, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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 issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.44%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is presently 91.11%.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DTM shares. US Capital Advisors raised shares of DT Midstream from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. 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. Bank of America started coverage on shares of DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 price target for the company. Williams Trading set a $110.00 target price on DT Midstream in a report on Monday, March 24th. Finally, Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has an average rating of "Hold" and a consensus target price 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.

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