Tortoise Capital Advisors L.L.C. Trims Stake in DT Midstream, Inc. (NYSE:DTM)

Tortoise Capital Advisors L.L.C. cut its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,299,963 shares of the company's stock after selling 134,644 shares during the quarter. DT Midstream accounts for 1.7% of Tortoise Capital Advisors L.L.C.'s holdings, making the stock its 17th largest holding. Tortoise Capital Advisors L.L.C. owned approximately 1.34% of DT Midstream worth $129,255,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DTM. Friedenthal Financial acquired a new stake in shares of DT Midstream during the fourth quarter worth about $764,000. Truist Financial Corp purchased a new position in DT Midstream in the 4th quarter valued at approximately $771,000. Thrivent Financial for Lutherans increased its position in shares of DT Midstream by 55.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock worth $3,536,000 after acquiring an additional 12,755 shares during the period. UMB Bank n.a. raised its stake in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after acquiring an additional 167 shares in the last quarter. Finally, Atria Investments Inc boosted its holdings in DT Midstream by 82.0% in the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company's stock valued at $1,532,000 after purchasing an additional 6,946 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Performance

NYSE:DTM traded up $1.27 during mid-day trading on Wednesday, reaching $96.87. The stock had a trading volume of 821,681 shares, compared to its average volume of 849,722. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The business has a 50 day simple moving average of $95.06 and a 200 day simple moving average of $97.76. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. This is an increase from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Analyst Ratings Changes

A number of research firms have issued reports on DTM. Morgan Stanley increased their price target on DT Midstream from $92.00 to $105.00 and gave the company an "underweight" rating in a research report on Tuesday, March 25th. Bank of America started coverage on shares of DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 price target for the company. Wells Fargo & Company decreased their price objective on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Williams Trading set a $110.00 price target on DT Midstream in a research note on Monday, March 24th. Finally, Stifel Nicolaus dropped their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $104.67.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company's stock.

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.