Raymond James Financial Inc. Buys Shares of 86,179 DT Midstream, Inc. (NYSE:DTM)

Raymond James Financial Inc. purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 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 institutional investors have also added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the 3rd quarter worth approximately $29,000. AdvisorNet Financial Inc boosted its holdings in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its position in DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group bought a new position in DT Midstream in the 3rd quarter worth $40,000. Finally, UMB Bank n.a. lifted its position in shares of DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream 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 owns 38,653 shares of the company's stock, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 1,170 shares of company stock worth $103,357 in the last three months. Insiders own 0.21% of the company's stock.

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Analysts Set New Price Targets

DTM has been the subject of a number of research reports. Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday. Barclays decreased their target price on DT Midstream from $112.00 to $107.00 and set an "equal weight" rating for the company in a research report on Friday, March 21st. Stifel Nicolaus dropped their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company reduced their price target 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. Finally, The Goldman Sachs Group raised their price objective on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research report on Thursday, December 19th. 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $104.00.

DT Midstream Stock Down 2.2 %

NYSE:DTM traded down $2.23 on Wednesday, reaching $98.29. 1,313,137 shares of the stock traded hands, compared to its average volume of 792,215. 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 company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 23.91 and a beta of 0.80. DT Midstream, Inc. has a 12 month low of $59.00 and a 12 month high of $114.50. The company's fifty day simple moving average is $99.86 and its 200 day simple moving average is $95.57.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.34%. This is an increase from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is 91.11%.

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.