KLP Kapitalforvaltning AS Makes New $2.01 Million Investment in DT Midstream, Inc. (NYSE:DTM)

KLP Kapitalforvaltning AS purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 20,100 shares of the company's stock, valued at approximately $2,011,000.

Other hedge funds also recently bought and sold shares of the company. Forefront Wealth Management Inc. bought a new position in DT Midstream in the 4th quarter worth $221,000. Sei Investments Co. raised its stake in DT Midstream by 0.6% in the fourth quarter. Sei Investments Co. now owns 66,539 shares of the company's stock worth $6,616,000 after buying an additional 422 shares in the last quarter. American Century Companies Inc. raised its stake in DT Midstream by 3.5% in the fourth quarter. American Century Companies Inc. now owns 48,837 shares of the company's stock worth $4,856,000 after buying an additional 1,666 shares in the last quarter. Lakeshore Financial Planning Inc. lifted its holdings in DT Midstream by 4.2% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock worth $285,000 after buying an additional 116 shares during the period. Finally, Brooklyn FI LLC bought a new stake in DT Midstream during the 4th quarter valued at approximately $463,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Wells Fargo & Company decreased their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Morgan Stanley boosted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday, March 25th. UBS Group increased their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. Finally, Raymond James boosted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, DT Midstream currently has a consensus rating of "Hold" and an average target price of $105.08.

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DT Midstream Stock Up 1.6 %

DTM traded up $1.52 during trading on Tuesday, hitting $98.00. 1,091,085 shares of the company's stock traded hands, compared to its average volume of 826,907. The stock has a market capitalization of $9.96 billion, a price-to-earnings ratio of 23.84 and a beta of 0.80. The company's 50 day simple moving average is $98.40 and its two-hundred day simple moving average is $96.35. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50. 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 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. 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 annualized dividend and a dividend yield of 3.35%. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders acquired 1,170 shares of company stock worth $103,357. 0.04% of the stock is owned by corporate 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.