Intech Investment Management LLC Invests $999,000 in DT Midstream, Inc. (NYSE:DTM)

Intech Investment Management LLC acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,044 shares of the company's stock, valued at approximately $999,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC grew its position in DT Midstream by 10.6% in the third quarter. Natixis Advisors LLC now owns 24,568 shares of the company's stock worth $1,933,000 after acquiring an additional 2,356 shares in the last quarter. Pathstone Holdings LLC raised its stake in shares of DT Midstream by 3.3% in the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company's stock valued at $1,633,000 after acquiring an additional 668 shares during the period. Caprock Group LLC lifted its holdings in shares of DT Midstream by 3.7% in the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company's stock worth $322,000 after acquiring an additional 143 shares during the last quarter. Commerce Bank boosted its position in shares of DT Midstream by 10.7% during the third quarter. Commerce Bank now owns 19,911 shares of the company's stock valued at $1,566,000 after buying an additional 1,932 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in DT Midstream by 55.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,224 shares of the company's stock valued at $96,000 after acquiring an additional 437 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Down 2.2 %

NYSE:DTM traded down $2.23 during mid-day trading on Wednesday, hitting $98.29. 1,314,651 shares of the company's stock traded hands, compared to its average volume of 792,215. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $9.99 billion, a P/E ratio of 23.91 and a beta of 0.80. The company has a fifty day moving average of $99.86 and a 200 day moving average of $95.57. DT Midstream, Inc. has a twelve month low of $59.00 and a twelve month high of $114.50.

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DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid 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 dividend on an annualized basis and a yield of 3.34%. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on 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 transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have purchased 1,170 shares of company stock valued at $103,357. Insiders own 0.21% of the company's stock.

Wall Street Analysts Forecast Growth

DTM has been the subject of several research analyst reports. Raymond James lifted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Barclays lowered their price objective on shares of DT Midstream from $112.00 to $107.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Finally, The Goldman Sachs Group boosted their price target 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 analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $104.00.

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.