Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,481 Shares of DT Midstream, Inc. (NYSE:DTM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 11.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,113 shares of the company’s stock after purchasing an additional 2,481 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DT Midstream were worth $2,398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DTM. FMR LLC raised its stake in shares of DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after purchasing an additional 754,839 shares during the period. Brookfield Corp ON raised its stake in shares of DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares during the period. Bahl & Gaynor Inc. bought a new stake in shares of DT Midstream during the 4th quarter worth $21,475,000. Finally, State Street Corp raised its stake in shares of DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Trading Up 2.9 %

Shares of DTM opened at $96.02 on Monday. The business’s 50-day moving average price is $100.78 and its 200-day moving average price is $94.52. DT Midstream, Inc. has a twelve month low of $57.45 and a twelve month high of $114.50. The stock has a market cap of $9.73 billion, a PE ratio of 23.36 and a beta of 0.80. The company has a quick ratio of 0.95, a current 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 will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.42%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is 91.11%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DTM. Raymond James lifted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Stifel Nicolaus decreased their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. UBS Group began coverage on DT Midstream in a report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price objective for the company. Finally, Wells Fargo & Company decreased 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. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and an average price target of $102.00.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders have purchased 1,170 shares of company stock worth $103,357. Insiders own 0.04% of the company’s stock.

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.