JPMorgan Chase & Co. Sells 249,192 Shares of DT Midstream, Inc. (NYSE:DTM)

JPMorgan Chase & Co. reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,050,656 shares of the company's stock after selling 249,192 shares during the period. JPMorgan Chase & Co. owned about 1.08% of DT Midstream worth $104,467,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cerity Partners LLC boosted its stake in DT Midstream by 29.2% during the 3rd quarter. Cerity Partners LLC now owns 13,996 shares of the company's stock worth $1,101,000 after purchasing an additional 3,161 shares during the period. FMR LLC increased its position in shares of DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company's stock valued at $63,396,000 after buying an additional 754,839 shares in the last quarter. Townsquare Capital LLC lifted its holdings in shares of DT Midstream by 43.2% in the third quarter. Townsquare Capital LLC now owns 7,228 shares of the company's stock valued at $569,000 after purchasing an additional 2,181 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in DT Midstream by 7.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,632 shares of the company's stock valued at $1,702,000 after buying an additional 1,446 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of DT Midstream by 3.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,200 shares of the company's stock valued at $18,973,000 after acquiring an additional 7,956 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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DT Midstream Stock Up 1.4 %

Shares of NYSE DTM traded up $1.26 during mid-day trading on Monday, reaching $88.49. The company had a trading volume of 1,917,372 shares, compared to its average volume of 839,213. 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 $8.99 billion, a price-to-earnings ratio of 21.53 and a beta of 0.77. The stock has a fifty day moving average of $97.16 and a two-hundred day moving average of $96.78. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50.

DT Midstream Increases Dividend

The business 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 dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.71%. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DTM. UBS Group lifted their target price on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 19th. Raymond James increased their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, January 28th. Finally, Bank of America started 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 on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $105.08.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 1,170 shares of company stock worth $103,357 in the last ninety days. Corporate insiders own 0.04% of the company's stock.

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.