Farther Finance Advisors LLC Sells 389 Shares of DT Midstream, Inc. (NYSE:DTM)

Farther Finance Advisors LLC decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 24.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,199 shares of the company’s stock after selling 389 shares during the quarter. Farther Finance Advisors LLC’s holdings in DT Midstream were worth $119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of DTM. FMR LLC raised its holdings in DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares during the period. Brookfield Corp ON raised its holdings in DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after acquiring an additional 655,695 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in 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 valued at $90,978,000 after acquiring an additional 267,269 shares during the period. Bahl & Gaynor Inc. bought a new stake in DT Midstream during the 4th quarter valued at $21,475,000. Finally, State Street Corp raised its holdings in DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 0.5 %

Shares of NYSE:DTM opened at $99.24 on Friday. DT Midstream, Inc. has a 52-week low of $58.25 and a 52-week high of $114.50. The firm has a fifty day moving average of $100.24 and a 200 day moving average of $94.84. The firm has a market capitalization of $10.06 billion, a PE ratio of 24.15 and a beta of 0.80. 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 Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.31%. DT Midstream’s payout ratio is 91.11%.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was acquired 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 directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders purchased 1,170 shares of company stock worth $103,357. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DTM shares. Barclays initiated coverage on shares of DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price on the stock. Stifel Nicolaus decreased their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of 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, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $102.00.

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.