Raymond James Financial Inc. Acquires Shares of 86,179 DT Midstream, Inc. (NYSE:DTM)

Raymond James Financial Inc. acquired a new stake in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 86,179 shares of the company’s stock, valued at approximately $8,569,000.

Other large investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its position in DT Midstream by 10.6% in the third quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock worth $1,933,000 after acquiring an additional 2,356 shares in the last quarter. Pathstone Holdings LLC grew its position in DT Midstream by 3.3% in the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after acquiring an additional 668 shares in the last quarter. Caprock Group LLC grew its position in DT Midstream by 3.7% in the third quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after acquiring an additional 143 shares in the last quarter. Commerce Bank grew its position in DT Midstream by 10.7% in the third quarter. Commerce Bank now owns 19,911 shares of the company’s stock worth $1,566,000 after acquiring an additional 1,932 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in DT Midstream by 55.5% in the third quarter. First Horizon Advisors Inc. now owns 1,224 shares of the company’s stock worth $96,000 after acquiring an additional 437 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

NYSE DTM opened at $96.88 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $100.10 and a 200 day simple moving average of $95.09. The company has a market cap of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. DT Midstream, Inc. has a 1 year low of $59.00 and a 1 year high of $114.50.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $0.82 dividend. The ex-dividend date of this dividend is 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 yield of 3.39%. DT Midstream’s dividend payout ratio is 91.11%.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly 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 SEC, which is accessible through this link. Insiders purchased a total of 1,170 shares of company stock valued at $103,357 in the last ninety days. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James boosted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Barclays decreased their target price on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday. UBS Group assumed coverage on shares of DT Midstream in a report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective 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 equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus price target of $101.50.

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.