Raymond James Financial Inc. Invests $8.57 Million in DT Midstream, Inc. (NYSE:DTM)

Raymond James Financial Inc. bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 86,179 shares of the company's stock, valued at approximately $8,569,000. Raymond James Financial Inc. owned 0.09% of DT Midstream as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of DTM. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream during the 3rd quarter worth about $29,000. AdvisorNet Financial Inc increased its position in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock worth $34,000 after buying an additional 163 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of DT Midstream in the third quarter valued at approximately $40,000. Finally, UMB Bank n.a. grew its stake in DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

DTM has been the subject of several analyst reports. Morgan Stanley raised their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 19th. Barclays decreased their target price on DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Friday. Stifel Nicolaus lowered 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 cut their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, DT Midstream has a consensus rating of "Hold" and a consensus target price of $103.45.

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DT Midstream Trading Up 0.1 %

Shares of DT Midstream stock traded up $0.08 during trading on Tuesday, reaching $101.08. The company's stock had a trading volume of 85,104 shares, compared to its average volume of 788,360. The company has a market cap of $10.27 billion, a price-to-earnings ratio of 24.61 and a beta of 0.80. The firm's 50-day moving average is $100.02 and its two-hundred day moving average is $95.39. DT Midstream, Inc. has a 52-week low of $59.00 and a 52-week high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. This is a boost from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 1,170 shares of company stock worth $103,357. Company insiders own 0.04% of the company's stock.

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.