Tribune Investment Group LP Invests $5.17 Million in DT Midstream, Inc. (NYSE:DTM)

Tribune Investment Group LP bought a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 52,000 shares of the company's stock, valued at approximately $5,170,000. DT Midstream comprises about 2.9% of Tribune Investment Group LP's holdings, making the stock its 18th largest position. Tribune Investment Group LP owned approximately 0.05% of DT Midstream as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTM. Vanguard Group Inc. raised its holdings in shares of DT Midstream by 3.5% in the 4th 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. Geode Capital Management LLC lifted its position in DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock valued at $243,948,000 after purchasing an additional 386,670 shares during the period. Invesco Ltd. boosted its stake in shares of DT Midstream by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after buying an additional 294,583 shares in the last quarter. Norges Bank purchased a new position in shares of DT Midstream in the 4th quarter valued at about $119,520,000. Finally, Reaves W H & Co. Inc. boosted its stake in shares of DT Midstream by 8.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company's stock worth $97,628,000 after acquiring an additional 74,329 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented 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 for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. The Goldman Sachs Group boosted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a "sell" rating in a report on Thursday, December 19th. Barclays decreased their price target on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Finally, Raymond James increased their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. 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. According to MarketBeat, DT Midstream currently has a consensus rating of "Hold" and an average target price of $104.67.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares of the company's stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.04% of the company's stock.

DT Midstream Stock Performance

Shares of NYSE:DTM traded up $1.28 during midday trading on Friday, reaching $96.84. 887,944 shares of the company's stock traded hands, compared to its average volume of 850,241. The stock has a 50 day moving average of $95.41 and a 200 day moving average of $97.38. The company has a market cap of $9.84 billion, a price-to-earnings ratio of 23.56 and a beta of 0.77. DT Midstream, Inc. has a one year low of $61.01 and a one year high of $114.50. 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 business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.39%. The ex-dividend date was Monday, March 17th. This is an increase from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

About DT Midstream

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.