Vanguard Group Inc. Acquires 359,017 Shares of DT Midstream, Inc. (NYSE:DTM)

Vanguard Group Inc. boosted its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 3.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,553,782 shares of the company's stock after buying an additional 359,017 shares during the quarter. Vanguard Group Inc. owned approximately 10.86% of DT Midstream worth $1,049,363,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream during the third quarter valued at about $29,000. AdvisorNet Financial Inc boosted its stake in DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock valued at $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC grew its holdings in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group bought a new position in DT Midstream in the 3rd quarter worth approximately $40,000. Finally, UMB Bank n.a. lifted its holdings in shares of DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after buying an additional 167 shares during the last quarter. Institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of DTM stock traded up $0.68 during trading hours on Wednesday, hitting $98.76. The company had a trading volume of 133,893 shares, compared to its average volume of 824,204. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 24.03 and a beta of 0.80. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. The firm's fifty day moving average is $98.40 and its 200 day moving average is $96.35.

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DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's dividend payout ratio is currently 91.11%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DTM shares. Barclays lowered their price objective on shares of DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a research note on Friday, March 21st. Raymond James raised 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. 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 report on Thursday, March 27th. Morgan Stanley lifted their target price on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 25th. Finally, Bank of America began coverage on DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus price target of $105.08.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders purchased 1,170 shares of company stock valued at $103,357. 0.04% of the stock is currently owned by company insiders.

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.