Wells Fargo & Company MN raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,756 shares of the company's stock after purchasing an additional 4,841 shares during the period. Wells Fargo & Company MN owned 0.06% of DT Midstream worth $5,345,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in DTM. AdvisorNet Financial Inc increased its holdings in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its holdings in shares of DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company's stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in DT Midstream during the third quarter valued at approximately $29,000. UMB Bank n.a. boosted its holdings in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock worth $48,000 after purchasing an additional 167 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in DT Midstream in the 4th quarter worth approximately $50,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.
DT Midstream Stock Performance
NYSE:DTM traded down $0.90 during midday trading on Friday, hitting $98.01. The company's stock had a trading volume of 82,605 shares, compared to its average volume of 846,604. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $114.50. The firm's 50 day moving average is $95.03 and its 200-day moving average is $97.86. The firm has a market cap of $9.96 billion, a P/E ratio of 23.84 and a beta of 0.77.
DT Midstream Increases Dividend
The company also recently declared 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 represents a $3.28 annualized dividend and a 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 currently 91.11%.
Insider Activity
In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares of the company's stock, valued at $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.34% of the company's stock.
Wall Street Analyst Weigh In
DTM has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a report on Friday, February 28th. Raymond James upped their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Williams Trading set a $110.00 target price on DT Midstream in a report on Monday, March 24th. UBS Group boosted their price objective on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, March 27th. Finally, Morgan Stanley upped their target price on shares of DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a report on Tuesday, March 25th. Two 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 stock currently has a consensus rating of "Hold" and a consensus target price of $104.67.
Check Out Our Latest Research Report on DT Midstream
About DT Midstream
(
Free Report)
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.
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