Stifel Financial Corp Sells 1,910 Shares of DT Midstream, Inc. (NYSE:DTM)

Stifel Financial Corp reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,870 shares of the company’s stock after selling 1,910 shares during the quarter. Stifel Financial Corp owned 0.07% of DT Midstream worth $6,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DTM. Louisiana State Employees Retirement System boosted its holdings 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 last quarter. Jones Financial Companies Lllp boosted its stake in shares of DT Midstream by 15.0% during 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 during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake 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 last quarter. Allspring Global Investments Holdings LLC increased its position in shares of DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after acquiring an additional 116 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. raised its holdings in DT Midstream by 4.2% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock worth $285,000 after acquiring an additional 116 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DTM shares. Bank of America assumed coverage on DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Stifel Nicolaus cut their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. US Capital Advisors lowered shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday. Finally, Raymond James raised their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $108.27.

DT Midstream Price Performance

Shares of NYSE DTM opened at $98.42 on Wednesday. The business’s 50 day moving average is $94.88 and its 200-day moving average is $98.26. The firm has a market cap of $10.00 billion, a P/E ratio of 23.95 and a beta of 0.77. DT Midstream, Inc. has a 1-year low of $61.01 and a 1-year 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.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.33%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is currently 91.11%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

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.