Tortoise Capital Advisors L.L.C. Has $129.26 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Tortoise Capital Advisors L.L.C. cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,299,963 shares of the company's stock after selling 134,644 shares during the quarter. DT Midstream accounts for 1.7% of Tortoise Capital Advisors L.L.C.'s investment portfolio, making the stock its 17th largest position. Tortoise Capital Advisors L.L.C. owned approximately 1.34% of DT Midstream worth $129,255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream during the third quarter worth approximately $29,000. Bessemer Group Inc. boosted its stake in DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the period. AdvisorNet Financial Inc grew its position in DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company's stock worth $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its stake in DT Midstream by 93.7% in 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 period. Finally, UMB Bank n.a. raised its holdings in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company's stock valued at $48,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DTM shares. UBS Group raised their price target on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, March 27th. US Capital Advisors raised DT Midstream from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. JPMorgan Chase & Co. upped their price target on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Bank of America began coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 target price on the stock. Finally, Raymond James lifted their price objective on DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $104.67.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 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 purchase, the director now owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

DT Midstream Trading Down 0.5 %

Shares of NYSE:DTM traded down $0.49 during mid-day trading on Friday, hitting $98.42. The stock had a trading volume of 220,144 shares, compared to its average volume of 847,154. The company has a market cap of $10.00 billion, a PE ratio of 23.94 and a beta of 0.77. The company's 50 day moving average is $95.03 and its 200-day moving average is $97.86. 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, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were paid a $0.82 dividend. The ex-dividend date was Monday, March 17th. This is an increase from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.33%. DT Midstream's dividend payout ratio is 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.