Meiji Yasuda Asset Management Co Ltd. Makes New $238,000 Investment in DT Midstream, Inc. (NYSE:DTM)

Meiji Yasuda Asset Management Co Ltd. bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, HoldingsChannel.com reports. The firm bought 2,390 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds have also recently modified their holdings of DTM. Modern Wealth Management LLC boosted its stake in DT Midstream by 7.9% in the fourth quarter. Modern Wealth Management LLC now owns 6,414 shares of the company’s stock valued at $652,000 after acquiring an additional 471 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $1,049,363,000 after purchasing an additional 359,017 shares during the period. LPL Financial LLC grew its stake in DT Midstream by 23.9% during the 4th quarter. LPL Financial LLC now owns 81,602 shares of the company’s stock worth $8,114,000 after buying an additional 15,733 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in DT Midstream during the fourth quarter worth approximately $2,011,000. Finally, Forefront Wealth Management Inc. purchased a new stake in DT Midstream in the fourth quarter valued at approximately $221,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have purchased a total of 1,170 shares of company stock valued at $103,357 in the last ninety days. 0.21% of the stock is currently owned by company insiders.

DT Midstream Stock Down 0.1 %

DTM opened at $96.89 on Friday. 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, Inc. has a 12 month low of $60.54 and a 12 month high of $114.50. The stock has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. The business has a 50 day simple moving average of $99.03 and a 200-day simple moving average of $95.75.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is presently 91.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DTM. Raymond James raised their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group raised their price objective 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. Bank of America started coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a “buy” rating and a $110.00 target price for the company. Barclays lowered their price target on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Finally, Morgan Stanley upped their price objective on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, DT Midstream has a consensus rating of “Hold” and an average target price of $105.08.

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.