Invesco Ltd. Purchases 294,583 Shares of DT Midstream, Inc. (NYSE:DTM)

Invesco Ltd. boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 24.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,487,901 shares of the company's stock after purchasing an additional 294,583 shares during the period. Invesco Ltd. owned approximately 1.53% of DT Midstream worth $147,942,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Quantinno Capital Management LP bought a new position in shares of DT Midstream in the third quarter valued at $284,000. Stifel Financial Corp raised its position in shares of DT Midstream by 41.5% during the third quarter. Stifel Financial Corp now owns 65,780 shares of the company's stock worth $5,174,000 after purchasing an additional 19,297 shares during the period. Wellington Management Group LLP lifted its holdings in shares of DT Midstream by 225.4% during the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company's stock valued at $11,449,000 after purchasing an additional 100,825 shares during the last quarter. MML Investors Services LLC acquired a new position in shares of DT Midstream in the 3rd quarter valued at $558,000. Finally, Public Employees Retirement System of Ohio increased its stake in DT Midstream by 12.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,629 shares of the company's stock worth $3,353,000 after purchasing an additional 4,595 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream 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 completion of the transaction, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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.

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DT Midstream Stock Up 1.1 %

DTM stock traded up $1.08 during mid-day trading on Tuesday, hitting $95.40. The stock had a trading volume of 859,919 shares, compared to its average volume of 847,413. The stock has a market capitalization of $9.69 billion, a price-to-earnings ratio of 23.21 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 1-year low of $61.01 and a 1-year high of $114.50. The company has a fifty day moving average of $95.64 and a 200 day moving average of $97.26.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.44%. The ex-dividend date is Monday, March 17th. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is presently 91.11%.

Analyst Ratings Changes

A number of analysts have commented on DTM shares. Bank of America assumed coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective for the company. Williams Trading set a $110.00 price target on shares of DT Midstream in a research report on Monday, March 24th. Wells Fargo & Company lowered their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. Finally, Morgan Stanley lifted their price target on DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company 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.