Tribune Investment Group LP Takes Position in DT Midstream, Inc. (NYSE:DTM)

Tribune Investment Group LP acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 52,000 shares of the company's stock, valued at approximately $5,170,000. DT Midstream accounts for 2.9% of Tribune Investment Group LP's investment portfolio, making the stock its 18th biggest holding. Tribune Investment Group LP owned 0.05% of DT Midstream at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DTM. Quantinno Capital Management LP acquired a new stake in DT Midstream in the 3rd quarter valued at $284,000. Stifel Financial Corp lifted its holdings in DT Midstream by 41.5% during the 3rd quarter. Stifel Financial Corp now owns 65,780 shares of the company's stock worth $5,174,000 after buying an additional 19,297 shares during the last quarter. Wellington Management Group LLP raised its position in shares of DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company's stock valued at $11,449,000 after acquiring an additional 100,825 shares in the last quarter. MML Investors Services LLC bought a new stake in shares of DT Midstream during the 3rd quarter valued at about $558,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of DT Midstream by 12.1% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 42,629 shares of the company's stock worth $3,353,000 after purchasing an additional 4,595 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

DTM has been the subject of several recent analyst reports. UBS Group upped their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Morgan Stanley upped their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock an "underweight" rating in a research note on Tuesday, March 25th. Wells Fargo & Company dropped their target price on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Barclays lowered their price target on 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. Finally, JPMorgan Chase & Co. lifted their target price on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. 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 company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $104.67.

DT Midstream Trading Up 1.3 %

DT Midstream stock traded up $1.28 during midday trading on Friday, reaching $96.84. The stock had a trading volume of 887,944 shares, compared to its average volume of 851,104. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. 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 firm has a market cap of $9.84 billion, a price-to-earnings ratio of 23.56 and a beta of 0.77. The firm's fifty day simple moving average is $95.35 and its two-hundred day simple moving average is $97.50.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, March 17th. This is a boost from DT Midstream's previous quarterly dividend of $0.74. DT Midstream's dividend payout ratio (DPR) is 91.11%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction on Monday, March 10th. The shares were bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

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.