Orion Portfolio Solutions LLC Sells 9,563 Shares of DT Midstream, Inc. (NYSE:DTM)

Orion Portfolio Solutions LLC lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 42.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,850 shares of the company's stock after selling 9,563 shares during the period. Orion Portfolio Solutions LLC's holdings in DT Midstream were worth $1,278,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of DT Midstream in the fourth quarter worth $119,520,000. FMR LLC boosted its stake in DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company's stock worth $63,396,000 after buying an additional 754,839 shares in the last quarter. Brookfield Corp ON raised its position in DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock worth $81,689,000 after purchasing an additional 655,695 shares in the last quarter. Vanguard Group Inc. grew 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 valued at $1,049,363,000 after purchasing an additional 359,017 shares during the period. Finally, Bahl & Gaynor Inc. acquired a new position in DT Midstream during the fourth quarter worth $21,475,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Up 4.9 %

Shares of NYSE DTM traded up $4.34 during trading on Wednesday, hitting $93.07. The stock had a trading volume of 1,407,265 shares, compared to its average volume of 845,481. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. The firm has a fifty day moving average of $96.34 and a two-hundred day moving average of $96.86. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $9.46 billion, a PE ratio of 22.64 and a beta of 0.77.

Remove Ads

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.52%. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream's dividend payout ratio is 91.11%.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 1,170 shares of company stock valued at $103,357. 0.04% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research report on Thursday, December 19th. Williams Trading set a $110.00 price objective on DT Midstream in a report on Monday, March 24th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company decreased their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $105.08.

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.