Pictet Asset Management Holding SA Buys 197,449 Shares of DT Midstream, Inc. (NYSE:DTM)

Pictet Asset Management Holding SA lifted its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 1,576.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 209,977 shares of the company's stock after purchasing an additional 197,449 shares during the period. Pictet Asset Management Holding SA owned 0.22% of DT Midstream worth $20,878,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC increased its stake in shares of DT Midstream by 29.2% in the 3rd quarter. Cerity Partners LLC now owns 13,996 shares of the company's stock valued at $1,101,000 after acquiring an additional 3,161 shares during the last quarter. FMR LLC increased its stake in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company's stock valued at $63,396,000 after purchasing an additional 754,839 shares in the last quarter. Townsquare Capital LLC raised its holdings in DT Midstream by 43.2% in the third quarter. Townsquare Capital LLC now owns 7,228 shares of the company's stock worth $569,000 after purchasing an additional 2,181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in DT Midstream by 7.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,632 shares of the company's stock worth $1,702,000 after purchasing an additional 1,446 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of DT Midstream by 3.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 241,200 shares of the company's stock worth $18,973,000 after purchasing an additional 7,956 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Remove Ads

DT Midstream Stock Down 8.0 %

NYSE:DTM traded down $7.58 on Friday, hitting $87.03. 2,576,287 shares of the company's stock were exchanged, compared to its average volume of 834,901. The firm has a 50-day moving average price of $97.33 and a 200-day moving average price of $96.56. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. 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 cap of $8.84 billion, a P/E ratio of 21.18 and a beta of 0.77.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.77%. This is an increase from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Bank of America started coverage on DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price target on the stock. UBS Group lifted their price objective on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 19th. Finally, Wells Fargo & Company cut their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of "Hold" and a consensus target price of $105.08.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 1,170 shares of company stock valued at $103,357 in the last 90 days. 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.