Thrivent Financial for Lutherans grew its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 55.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,570 shares of the company's stock after purchasing an additional 12,755 shares during the period. Thrivent Financial for Lutherans' holdings in DT Midstream were worth $3,536,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in DTM. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream in the 3rd quarter worth approximately $29,000. AdvisorNet Financial Inc lifted its holdings in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC grew its position in 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 acquiring an additional 163 shares in the last quarter. Brooklyn Investment Group bought a new position in DT Midstream in the third quarter valued at $40,000. Finally, UMB Bank n.a. raised its position 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 purchasing an additional 167 shares in the last quarter. Institutional investors own 81.53% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on DTM. JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, January 24th. Williams Trading set a $110.00 price target on shares of DT Midstream in a research report on Monday, March 24th. UBS Group upped their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday. Raymond James increased their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Finally, Barclays lowered their price target on shares of DT Midstream from $112.00 to $107.00 and set an "equal weight" rating for the company in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, DT Midstream has an average rating of "Hold" and an average price target of $105.08.
Check Out Our Latest Stock Analysis on DTM
Insider Transactions at DT Midstream
In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired 1,170 shares of company stock valued at $103,357 in the last three months. 0.21% of the stock is currently owned by company insiders.
DT Midstream Trading Down 0.1 %
Shares of DTM traded down $0.09 during mid-day trading on Friday, hitting $96.89. 1,143,944 shares of the company's stock traded hands, compared to its average volume of 822,409. The business's 50-day moving average price is $99.03 and its 200-day moving average price is $96.05. DT Midstream, Inc. has a 1 year low of $60.54 and a 1 year high of $114.50. The firm has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.39%. 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 payout ratio is 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.
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