Oppenheimer & Co. Inc. acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,487 shares of the company's stock, valued at approximately $645,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its holdings in DT Midstream by 2.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 87,251 shares of the company's stock valued at $8,675,000 after buying an additional 2,364 shares in the last quarter. Amalgamated Bank increased its stake in DT Midstream by 0.4% in the 4th quarter. Amalgamated Bank now owns 46,496 shares of the company's stock valued at $4,623,000 after purchasing an additional 193 shares in the last quarter. IFP Advisors Inc raised its holdings in DT Midstream by 37.8% during the fourth quarter. IFP Advisors Inc now owns 1,257 shares of the company's stock worth $130,000 after purchasing an additional 345 shares during the last quarter. Midwest Capital Advisors LLC acquired a new stake in DT Midstream in the fourth quarter valued at $157,000. Finally, Colonial River Investments LLC acquired a new stake in DT Midstream in the fourth quarter valued at $284,000. Institutional investors and hedge funds own 81.53% of the company's stock.
DT Midstream Trading Down 1.4 %
Shares of DTM traded down $1.26 during mid-day trading on Monday, reaching $86.88. The company had a trading volume of 2,051,900 shares, compared to its average volume of 751,301. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 21.14 and a beta of 0.80. 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 firm has a fifty day simple moving average of $101.68 and a 200-day simple moving average of $93.97. DT Midstream, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $114.50.
DT Midstream Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $0.82 dividend. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.78%. DT Midstream's dividend payout ratio (DPR) is presently 91.11%.
Analyst Ratings Changes
A number of equities research analysts recently commented on the stock. Raymond James increased their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Wells Fargo & Company reduced their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Barclays began coverage on DT Midstream in a research report on Friday, January 10th. They issued an "equal weight" rating and a $112.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $102.00.
Check Out Our Latest Stock Analysis on DTM
About DT Midstream
(
Free Report)
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.
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