Norges Bank Takes $119.52 Million Position in DT Midstream, Inc. (NYSE:DTM)

Norges Bank acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,202,052 shares of the company's stock, valued at approximately $119,520,000. Norges Bank owned 1.24% of DT Midstream at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream during the third quarter valued at approximately $29,000. AdvisorNet Financial Inc boosted its position in DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC increased its holdings in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares in the last quarter. UMB Bank n.a. raised its position in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after purchasing an additional 167 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of DT Midstream during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Down 8.0 %

NYSE DTM traded down $7.58 on Friday, hitting $87.03. 2,576,287 shares of the stock traded hands, compared to its average volume of 834,901. 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 stock has a 50-day moving average of $97.33 and a 200 day moving average of $96.56. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The company has a market capitalization of $8.84 billion, a P/E ratio of 21.18 and a beta of 0.77.

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DT Midstream Increases Dividend

The company also recently declared 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. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Monday, March 17th. DT Midstream's dividend payout ratio is currently 91.11%.

Analyst Ratings Changes

Several equities research analysts recently commented 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 report on Friday, February 28th. UBS Group boosted their target price 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. Barclays lowered their price target on shares of DT Midstream from $112.00 to $107.00 and set an "equal weight" rating for the company in a report on Friday, March 21st. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 19th. Finally, Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and an average price target of $105.08.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction 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. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have bought 1,170 shares of company stock worth $103,357 over the last ninety days. 0.04% of the stock is owned by insiders.

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.