Vanguard Group Inc. Buys 359,017 Shares of DT Midstream, Inc. (NYSE:DTM)

Vanguard Group Inc. grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 3.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,553,782 shares of the company’s stock after buying an additional 359,017 shares during the period. Vanguard Group Inc. owned 0.11% of DT Midstream worth $1,049,363,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cerity Partners LLC raised its position in DT Midstream by 29.2% during the third 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 in the last quarter. FMR LLC increased its position in shares of DT Midstream by 1,476.9% during the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after purchasing an additional 754,839 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of DT Midstream during the 3rd quarter valued at about $40,000. Townsquare Capital LLC lifted its position in DT Midstream by 43.2% in the 3rd quarter. Townsquare Capital LLC now owns 7,228 shares of the company’s stock worth $569,000 after buying an additional 2,181 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in DT Midstream by 7.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,632 shares of the company’s stock worth $1,702,000 after buying an additional 1,446 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Trading Down 0.1 %

NYSE DTM opened at $96.89 on Friday. The stock has a market cap of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. DT Midstream, Inc. has a fifty-two week low of $60.54 and a fifty-two week high of $114.50. The stock has a 50 day simple moving average of $99.03 and a two-hundred day simple moving average of $95.75. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.82 dividend. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 1,170 shares of company stock worth $103,357 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the topic of several research reports. UBS Group lifted their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. Barclays decreased their target price on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. Wells Fargo & Company cut their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. The Goldman Sachs Group lifted their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Finally, Raymond James increased their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target 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.