National Bank of Canada FI Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

National Bank of Canada FI acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,160 shares of the company's stock, valued at approximately $3,002,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DTM. Vanguard Group Inc. lifted its stake in shares of DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after acquiring an additional 359,017 shares during the period. State Street Corp lifted its position in DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after purchasing an additional 202,447 shares during the period. Geode Capital Management LLC boosted its stake in DT Midstream by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company's stock valued at $162,567,000 after purchasing an additional 85,462 shares in the last quarter. Norges Bank acquired a new position in shares of DT Midstream during the 4th quarter valued at $119,520,000. Finally, Reaves W H & Co. Inc. raised its stake in shares of DT Midstream by 8.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company's stock worth $97,628,000 after buying an additional 74,329 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business's stock in a transaction on Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 1,170 shares of company stock valued at $103,357 in the last 90 days. 0.04% of the stock is currently owned by corporate insiders.

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DT Midstream Stock Up 2.8 %

Shares of DT Midstream stock traded up $2.53 during midday trading on Friday, hitting $92.58. The company's stock had a trading volume of 1,030,745 shares, compared to its average volume of 846,536. The firm has a market capitalization of $9.41 billion, a P/E ratio of 22.53 and a beta of 0.77. DT Midstream, Inc. has a 1-year low of $61.01 and a 1-year 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. The stock has a 50-day simple moving average of $95.93 and a 200-day simple moving average of $97.03.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 positive change from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.54%. DT Midstream's dividend payout ratio (DPR) is presently 91.11%.

Analyst Ratings Changes

Several research analysts recently weighed in on DTM shares. US Capital Advisors raised DT Midstream from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Barclays lowered their price objective on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Friday. Bank of America initiated coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 target price for the company. UBS Group lifted their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, The Goldman Sachs Group increased their price objective on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research report on Thursday, December 19th. 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. Based on data from MarketBeat.com, DT Midstream currently has an average rating of "Hold" and an average target price of $104.67.

About DT Midstream

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.