Pinebridge Investments L.P. Has $3.95 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Pinebridge Investments L.P. boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 43.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,767 shares of the company's stock after buying an additional 11,964 shares during the period. Pinebridge Investments L.P.'s holdings in DT Midstream were worth $3,954,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in shares of DT Midstream by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company's stock valued at $2,685,000 after acquiring an additional 100 shares during the period. Jones Financial Companies Lllp raised its stake in DT Midstream by 15.0% during the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after purchasing an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company's stock valued at $69,000 after purchasing an additional 105 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company's stock worth $1,235,000 after buying an additional 116 shares during the period. Finally, Lakeshore Financial Planning Inc. grew its holdings in shares of DT Midstream by 4.2% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock valued at $285,000 after buying an additional 116 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DTM. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Barclays decreased their price target on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Williams Trading set a $110.00 target price on shares of DT Midstream in a research report on Monday, March 24th. Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their price target on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $104.67.

DT Midstream Stock Performance

Shares of DT Midstream stock traded down $0.32 during midday trading on Tuesday, hitting $98.42. The company had a trading volume of 1,174,486 shares, compared to its average volume of 851,932. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 1-year low of $61.01 and a 1-year high of $114.50. The business's 50 day simple moving average is $94.91 and its two-hundred day simple moving average is $98.26. The stock has a market cap of $10.00 billion, a PE ratio of 23.95 and a beta of 0.77.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were given a $0.82 dividend. The ex-dividend date was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by company 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.