Corient Private Wealth LLC Acquires 1,738 Shares of DT Midstream, Inc. (NYSE:DTM)

Corient Private Wealth LLC lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,587 shares of the company’s stock after purchasing an additional 1,738 shares during the quarter. Corient Private Wealth LLC’s holdings in DT Midstream were worth $2,246,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTM. Louisiana State Employees Retirement System grew its position in DT Midstream by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after buying an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after acquiring an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of DT Midstream by 21.1% in the 4th quarter. Larson Financial Group LLC now owns 683 shares of the company’s stock valued at $68,000 after purchasing an additional 119 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $96.88 on Monday. The firm has a market cap of $9.84 billion, a PE ratio of 23.57 and a beta of 0.80. DT Midstream, Inc. has a 52 week low of $59.00 and a 52 week high of $114.50. The firm’s fifty day moving average is $100.10 and its 200-day moving average is $95.22. 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. 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 a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is 91.11%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of 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 ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders purchased 1,170 shares of company stock valued at $103,357. Company insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the subject of several recent analyst reports. UBS Group assumed coverage on DT Midstream in a research report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective for the company. Raymond James raised their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Stifel Nicolaus dropped their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.