Raymond James Financial Inc. bought a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 86,179 shares of the company's stock, valued at approximately $8,569,000. Raymond James Financial Inc. owned about 0.09% of DT Midstream at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the business. ELCO Management Co. LLC purchased a new stake in shares of DT Midstream in the fourth quarter worth approximately $221,000. Azimuth Capital Investment Management LLC raised its position in DT Midstream by 24.0% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 5,116 shares of the company's stock valued at $509,000 after buying an additional 989 shares during the last quarter. Advisory Services Network LLC lifted its stake in DT Midstream by 11.8% during the 4th quarter. Advisory Services Network LLC now owns 14,168 shares of the company's stock valued at $1,409,000 after acquiring an additional 1,494 shares in the last quarter. Applied Finance Capital Management LLC purchased a new position in DT Midstream during the 4th quarter worth $225,000. Finally, Bernard Wealth Management Corp. bought a new stake in shares of DT Midstream in the 4th quarter worth $1,794,000. Institutional investors own 81.53% of the company's stock.
Insider Buying and Selling
In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's 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 acquisition, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on DTM shares. Wells Fargo & Company dropped 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 report on Friday, February 28th. Bank of America initiated coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. Barclays reduced their target price on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Raymond James boosted 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. Finally, Stifel Nicolaus decreased their target price on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, DT Midstream has a consensus rating of "Hold" and an average target price of $104.67.
View Our Latest Stock Report on DT Midstream
DT Midstream Price Performance
NYSE DTM opened at $95.44 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.70 billion, a PE ratio of 23.22 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. The firm's 50-day simple moving average is $95.12 and its two-hundred day simple moving average is $97.76.
DT Midstream Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were 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 3.44%. The ex-dividend date was Monday, March 17th. DT Midstream's dividend payout ratio is presently 91.11%.
About DT Midstream
(
Free Report)
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.
Further Reading
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