Brasada Capital Management LP Cuts Position in DT Midstream, Inc. (NYSE:DTM)

Brasada Capital Management LP lessened its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 20.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,696 shares of the company's stock after selling 4,016 shares during the quarter. Brasada Capital Management LP's holdings in DT Midstream were worth $1,652,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DTM. Vanguard Group Inc. lifted its position in shares of DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the period. Geode Capital Management LLC increased its stake in DT Midstream by 18.7% in the 4th 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 in the last quarter. Invesco Ltd. increased its stake in DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company's stock valued at $147,942,000 after purchasing an additional 294,583 shares in the last quarter. Norges Bank purchased a new stake in DT Midstream during the fourth quarter worth $119,520,000. Finally, Reaves W H & Co. Inc. grew its holdings in 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 purchasing an additional 74,329 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Analysts Set New Price Targets

DTM has been the topic of several recent research reports. Barclays decreased their price objective on shares of DT Midstream from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Friday, April 11th. Raymond James increased their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Wells Fargo & Company dropped 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 note on Friday, February 28th. JPMorgan Chase & Co. upped their target price on DT Midstream from $109.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Finally, Morgan Stanley raised their price target on DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $104.67.

DT Midstream Trading Down 0.8 %

NYSE:DTM traded down $0.83 during mid-day trading on Monday, reaching $97.89. The company's stock had a trading volume of 310,888 shares, compared to its average volume of 848,115. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The company's fifty day simple moving average is $94.97 and its two-hundred day simple moving average is $98.16. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $9.94 billion, a P/E ratio of 23.81 and a beta of 0.77.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Monday, March 17th. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now owns 38,653 shares of the company's stock, valued at $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 available at the SEC website. Corporate insiders own 0.34% of the company's stock.

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.