Cohen & Steers Inc. Lowers Holdings in DT Midstream, Inc. (NYSE:DTM)

Cohen & Steers Inc. lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 69.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,636 shares of the company's stock after selling 43,309 shares during the quarter. Cohen & Steers Inc.'s holdings in DT Midstream were worth $1,853,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DTM. Norges Bank purchased a new position in shares of DT Midstream in the 4th quarter valued at approximately $119,520,000. Bank of Montreal Can lifted its holdings in shares of DT Midstream by 733.3% during the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company's stock worth $45,617,000 after purchasing an additional 403,730 shares during the period. Geode Capital Management LLC lifted its holdings in shares of DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock worth $243,948,000 after purchasing an additional 386,670 shares during the period. Vanguard Group Inc. grew its position in 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 buying an additional 359,017 shares during the last quarter. Finally, 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 buying an additional 294,583 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of NYSE:DTM traded up $1.28 during midday trading on Friday, hitting $96.84. 887,944 shares of the stock were exchanged, compared to its average volume of 850,493. The stock has a market cap of $9.84 billion, a P/E ratio of 23.56 and a beta of 0.77. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The company has a 50 day moving average price of $95.35 and a 200-day moving average price of $97.72. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were given a dividend of $0.82 per share. This is an increase from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Monday, March 17th. DT Midstream's payout ratio is currently 91.11%.

Analyst Ratings Changes

DTM has been the subject of several recent analyst reports. Raymond James raised their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. US Capital Advisors upgraded shares of DT Midstream from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Stifel Nicolaus reduced their price target on DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Barclays decreased their price target on DT Midstream from $107.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $104.67.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now 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 is available through this link. 0.34% of the stock is currently owned by company insiders.

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.