Mariner LLC Increases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Mariner LLC lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,557 shares of the company's stock after acquiring an additional 3,479 shares during the quarter. Mariner LLC's holdings in DT Midstream were worth $4,729,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream in the third quarter worth $29,000. Bessemer Group Inc. lifted its position in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after buying an additional 117 shares in the last quarter. AdvisorNet Financial Inc boosted its stake in DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its holdings in DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after buying an additional 163 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after acquiring an additional 167 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Up 2.0 %

Shares of DT Midstream stock traded up $1.91 on Thursday, hitting $98.83. 597,621 shares of the company traded hands, compared to its average volume of 849,162. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $10.04 billion, a PE ratio of 24.05 and a beta of 0.77. The stock's 50 day moving average price is $95.06 and its 200-day moving average price is $97.76. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.32%. This is a boost from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Monday, March 17th. DT Midstream's dividend payout ratio is currently 91.11%.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of recent research reports. Stifel Nicolaus cut their target price on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Bank of America assumed coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. US Capital Advisors upgraded DT Midstream from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Raymond James upped their price objective on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley raised their price objective on DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research note on Tuesday, March 25th. Two equities 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 stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and an average price target of $104.67.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently 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.