Tower Research Capital LLC TRC Has $562,000 Stock Position in DT Midstream, Inc. (NYSE:DTM)

Tower Research Capital LLC TRC lessened its position in shares of DT Midstream, Inc. (NYSE:DTM) by 45.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,656 shares of the company’s stock after selling 4,770 shares during the period. Tower Research Capital LLC TRC’s holdings in DT Midstream were worth $562,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DTM. Vanguard Group Inc. raised its position in shares of DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after acquiring an additional 359,017 shares in the last quarter. Geode Capital Management LLC raised its position in shares of DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock worth $243,948,000 after acquiring an additional 386,670 shares in the last quarter. Invesco Ltd. raised its position in shares of DT Midstream by 24.7% in the 4th quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock worth $147,942,000 after acquiring an additional 294,583 shares in the last quarter. Norges Bank bought a new position in shares of DT Midstream in the 4th quarter worth about $119,520,000. Finally, Reaves W H & Co. Inc. raised its position in shares of DT Midstream by 8.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company’s stock worth $97,628,000 after acquiring an additional 74,329 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

DT Midstream stock opened at $98.76 on Tuesday. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. 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 business’s 50 day simple moving average is $94.91 and its 200 day simple moving average is $98.26. The company has a market cap of $10.03 billion, a price-to-earnings ratio of 24.03 and a beta of 0.77.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were paid a $0.82 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date was Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.32%. DT Midstream’s dividend payout ratio is presently 91.11%.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction on Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on DTM shares. Barclays lowered their price objective on DT Midstream from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Stifel Nicolaus lowered their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. UBS Group boosted their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. boosted their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company decreased their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.67.

About DT Midstream

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.