Commonwealth Equity Services LLC Grows Stake in DT Midstream, Inc. (NYSE:DTM)

Commonwealth Equity Services LLC grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,871 shares of the company’s stock after purchasing an additional 137 shares during the quarter. Commonwealth Equity Services LLC’s holdings in DT Midstream were worth $4,163,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Natixis Advisors LLC lifted its position in DT Midstream by 10.6% during the 3rd 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 raised its stake in shares of DT Midstream by 3.3% during the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock valued at $1,633,000 after purchasing an additional 668 shares during the period. Caprock Group LLC lifted its position in shares of DT Midstream by 3.7% during the third quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after purchasing an additional 143 shares in the last quarter. Commerce Bank boosted its stake in shares of DT Midstream by 10.7% in the third quarter. Commerce Bank now owns 19,911 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,932 shares during the period. Finally, First Horizon Advisors Inc. grew its holdings in DT Midstream by 55.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,224 shares of the company’s stock valued at $96,000 after purchasing an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on DTM shares. Stifel Nicolaus cut their price objective 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. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Wells Fargo & Company lowered their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. UBS Group began coverage on DT Midstream in a research report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 target price on the stock. Finally, The Goldman Sachs Group raised their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $101.50.

DT Midstream Stock Down 2.4 %

DTM stock opened at $96.88 on Monday. The firm has a market cap of $9.84 billion, a price-to-earnings 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. The firm has a fifty day moving average price of $100.10 and a two-hundred day moving average price of $95.22. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream Increases Dividend

The firm 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 dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 91.11%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 1,170 shares of company stock worth $103,357 over the last quarter. 0.04% of the stock is owned by company insiders.

DT Midstream Company 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.