New Age Alpha Advisors LLC Purchases Shares of 23,312 DT Midstream, Inc. (NYSE:DTM)

New Age Alpha Advisors LLC bought a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,312 shares of the company's stock, valued at approximately $2,318,000.

A number of other institutional investors have also recently made changes to their positions in DTM. Vanguard Group Inc. raised its stake in DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the period. State Street Corp raised its position in shares of DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock valued at $268,757,000 after purchasing an additional 202,447 shares during the period. Geode Capital Management LLC lifted its stake in shares of 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 buying an additional 85,462 shares in the last quarter. Norges Bank bought a new position in DT Midstream in the 4th quarter worth approximately $119,520,000. Finally, Brookfield Corp ON grew its stake in DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock valued at $81,689,000 after buying an additional 655,695 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DTM shares. Wells Fargo & Company dropped their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Morgan Stanley lifted their target price on DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday, March 25th. Bank of America initiated coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $105.08.

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DT Midstream Price Performance

Shares of NYSE DTM traded down $4.21 during mid-day trading on Thursday, reaching $95.29. 281,441 shares of the company were exchanged, compared to its average volume of 823,667. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. The company's 50 day moving average price is $98.16 and its 200 day moving average price is $96.37. The stock has a market capitalization of $9.68 billion, a PE ratio of 23.18 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This is a boost from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Monday, March 17th. DT Midstream's dividend payout ratio is presently 91.11%.

Insider Activity

In other 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 acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, 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 filing with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 1,170 shares of company stock worth $103,357. 0.04% of the stock is currently owned by insiders.

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.