Reaves W H & Co. Inc. Grows Position in DT Midstream, Inc. (NYSE:DTM)

Reaves W H & Co. Inc. increased its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 981,879 shares of the company's stock after acquiring an additional 74,329 shares during the period. DT Midstream makes up about 2.6% of Reaves W H & Co. Inc.'s holdings, making the stock its 16th largest holding. Reaves W H & Co. Inc. owned about 1.01% of DT Midstream worth $97,628,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new stake in DT Midstream in the fourth quarter valued at approximately $155,000. Jones Financial Companies Lllp increased its position in shares of DT Midstream by 15.0% in 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 last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of DT Midstream in the 4th quarter valued at $50,000. Smartleaf Asset Management LLC lifted its position in shares of DT Midstream by 327.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,780 shares of the company's stock worth $178,000 after purchasing an additional 1,364 shares during the last quarter. Finally, Metis Global Partners LLC grew its stake in shares of DT Midstream by 3.7% during the fourth quarter. Metis Global Partners LLC now owns 5,597 shares of the company's stock worth $557,000 after purchasing an additional 202 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

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DT Midstream Stock Performance

Shares of DT Midstream stock traded down $1.49 during trading on Friday, reaching $88.16. The company's stock had a trading volume of 2,423,127 shares, compared to its average volume of 744,032. The firm has a market cap of $8.94 billion, a PE ratio of 21.45 and a beta of 0.80. The company has a 50-day moving average price of $101.91 and a two-hundred day moving average price of $93.63. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $114.50.

DT Midstream Increases Dividend

The business also recently declared 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 represents a $3.28 annualized dividend and a dividend yield of 3.72%. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio is 91.11%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup upgraded DT Midstream from a "neutral" rating to a "buy" rating and raised their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group raised their target price on DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research report on Thursday, December 19th. Raymond James boosted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. Barclays initiated coverage on shares of DT Midstream in a research note on Friday, January 10th. They issued an "equal weight" rating and a $112.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $102.00.

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.