Mitsubishi UFJ Trust & Banking Corp Sells 683,744 Shares of DT Midstream, Inc. (NYSE:DTM)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 55.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 541,986 shares of the company’s stock after selling 683,744 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.56% of DT Midstream worth $53,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Natixis Advisors LLC lifted its holdings in shares of DT Midstream by 10.6% during the 3rd quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock valued at $1,933,000 after buying an additional 2,356 shares during the period. Pathstone Holdings LLC increased its position in DT Midstream by 3.3% during the third quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock valued at $1,633,000 after acquiring an additional 668 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after acquiring an additional 267,269 shares during the period. Cerity Partners LLC grew its stake in shares of DT Midstream by 29.2% during the 3rd quarter. Cerity Partners LLC now owns 13,996 shares of the company’s stock valued at $1,101,000 after purchasing an additional 3,161 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of DT Midstream during the 3rd quarter valued at about $564,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders have bought 1,170 shares of company stock valued at $103,357. 0.21% of the stock is currently owned by insiders.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $100.52 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $10.21 billion, a price-to-earnings ratio of 24.46 and a beta of 0.80. The firm has a fifty day moving average price of $99.86 and a 200 day moving average price of $95.57. DT Midstream, Inc. has a fifty-two week low of $59.00 and a fifty-two week high of $114.50.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.26%. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on DTM shares. Barclays dropped their price objective on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. Raymond James boosted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. UBS Group assumed coverage on DT Midstream in a report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 target price on the stock. Morgan Stanley boosted their price target on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Bank of America began coverage on DT Midstream in a research note on Monday. They issued a “buy” rating and a $110.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $103.45.

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.