Russell Investments Group Ltd. Decreases Stake in DT Midstream, Inc. (NYSE:DTM)

Russell Investments Group Ltd. decreased its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,716 shares of the company's stock after selling 27,400 shares during the quarter. Russell Investments Group Ltd. owned 0.46% of DT Midstream worth $44,318,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after purchasing an additional 359,017 shares in the last quarter. State Street Corp grew its stake in shares of DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after acquiring an additional 202,447 shares in the last quarter. Geode Capital Management LLC increased its position in shares of DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after acquiring an additional 386,670 shares during the period. Norges Bank acquired a new stake in shares of DT Midstream in the fourth quarter valued at $119,520,000. Finally, Reaves W H & Co. Inc. raised its stake in shares of DT Midstream by 8.2% in the fourth quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company's stock valued at $97,628,000 after acquiring an additional 74,329 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stifel Nicolaus cut 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. Bank of America initiated coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a research note on Thursday, December 19th. US Capital Advisors upgraded shares of DT Midstream from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Finally, Williams Trading set a $110.00 price objective on shares of DT Midstream in a report on Monday, March 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $104.67.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders acquired a total of 1,170 shares of company stock worth $103,357 in the last 90 days. Company insiders own 0.04% of the company's stock.

DT Midstream Stock Performance

Shares of DTM stock traded up $2.53 during mid-day trading on Friday, hitting $92.58. 1,030,745 shares of the stock were exchanged, compared to its average volume of 846,668. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of 22.53 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50. The stock's fifty day simple moving average is $95.93 and its two-hundred day simple moving average is $97.16.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This is an increase from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, March 17th. DT Midstream's dividend payout ratio is presently 91.11%.

DT Midstream Company 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.