Intech Investment Management LLC Takes Position in DT Midstream, Inc. (NYSE:DTM)

Intech Investment Management LLC purchased a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,044 shares of the company's stock, valued at approximately $999,000.

Several other institutional investors also recently modified their holdings of DTM. AdvisorNet Financial Inc grew its holdings in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of 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 period. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream in the 3rd quarter worth about $29,000. UMB Bank n.a. raised its holdings 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 buying an additional 167 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in DT Midstream during the fourth quarter valued at about $50,000. Institutional investors own 81.53% of the company's stock.

DT Midstream Stock Down 0.2 %

Shares of DTM traded down $0.16 during midday trading on Tuesday, reaching $100.84. 153,302 shares of the stock were exchanged, compared to its average volume of 788,360. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 24.54 and a beta of 0.80. The firm has a 50 day simple moving average of $100.02 and a 200-day simple moving average of $95.39. DT Midstream, Inc. has a 12-month low of $59.00 and a 12-month high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

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DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 3.25%. DT Midstream's payout ratio is 91.11%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DTM. Wells Fargo & Company cut their price target 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. Barclays cut their target price on shares of DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Friday. Raymond James raised 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. Stifel Nicolaus lowered their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group increased their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 19th. Two 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. According to data from MarketBeat, DT Midstream has an average rating of "Hold" and a consensus target price of $103.45.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business's stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company's stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired 1,170 shares of company stock worth $103,357 over the last ninety days. 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.