Thrivent Financial for Lutherans Grows Stock Position in DT Midstream, Inc. (NYSE:DTM)

Thrivent Financial for Lutherans boosted its position in shares of DT Midstream, Inc. (NYSE:DTM) by 55.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,570 shares of the company’s stock after buying an additional 12,755 shares during the quarter. Thrivent Financial for Lutherans’ holdings in DT Midstream were worth $3,536,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares during the period. Friedenthal Financial purchased a new position in shares of DT Midstream during the fourth quarter valued at approximately $764,000. Truist Financial Corp bought a new position in shares of DT Midstream during the fourth quarter valued at approximately $771,000. Bridgewater Associates LP raised its holdings in shares of DT Midstream by 57.6% in the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after buying an additional 67,725 shares during the period. Finally, State Street Corp lifted 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 acquiring an additional 202,447 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of DTM stock opened at $98.29 on Thursday. The stock’s 50-day moving average is $99.65 and its 200 day moving average is $95.59. DT Midstream, Inc. has a 1-year low of $59.03 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $9.99 billion, a P/E ratio of 23.91 and a beta of 0.80.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.34%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders acquired 1,170 shares of company stock valued at $103,357. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on DTM. Williams Trading set a $110.00 price objective on DT Midstream in a research report on Monday. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Bank of America started coverage on shares of DT Midstream in a report on Monday. They set a “buy” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Morgan Stanley lifted their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and a consensus price target of $104.00.

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.