Advisory Services Network LLC Acquires 1,494 Shares of DT Midstream, Inc. (NYSE:DTM)

Advisory Services Network LLC boosted its holdings in DT Midstream, Inc. (NYSE:DTM) by 11.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,168 shares of the company’s stock after purchasing an additional 1,494 shares during the period. Advisory Services Network LLC’s holdings in DT Midstream were worth $1,409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System lifted its stake 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 purchasing an additional 100 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after buying an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of DT Midstream by 17.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock worth $69,000 after buying an additional 105 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in 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 buying an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. boosted its stake in DT Midstream by 4.2% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock valued at $285,000 after buying an additional 116 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 1,170 shares of company stock worth $103,357 in the last quarter. 0.04% of the stock is owned by company insiders.

DT Midstream Trading Up 2.8 %

Shares of DTM opened at $92.58 on Friday. The stock’s fifty day simple moving average is $95.93 and its 200-day simple moving average is $97.03. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.41 billion, a PE ratio of 22.53 and a beta of 0.77. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.54%. 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 dividend payout ratio (DPR) is 91.11%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DTM shares. Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday, March 25th. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research note on Monday, March 24th. Bank of America initiated coverage on shares of DT Midstream in a research note on Monday, March 24th. They issued a “buy” rating and a $110.00 target price for the company. Finally, Raymond James increased their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $104.67.

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.