Modern Wealth Management LLC Boosts Stake in DT Midstream, Inc. (NYSE:DTM)

Modern Wealth Management LLC grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 7.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,414 shares of the company’s stock after buying an additional 471 shares during the period. Modern Wealth Management LLC’s holdings in DT Midstream were worth $652,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Friedenthal Financial acquired a new position in shares of DT Midstream in the fourth quarter valued at approximately $764,000. Truist Financial Corp purchased a new position in shares of DT Midstream during the fourth quarter valued at approximately $771,000. Bridgewater Associates LP boosted its position in DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after acquiring an additional 67,725 shares during the last quarter. Finally, State Street Corp grew its stake in DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Down 2.2 %

Shares of DT Midstream stock opened at $98.29 on Thursday. DT Midstream, Inc. has a twelve month low of $59.03 and a twelve month high of $114.50. The stock has a market cap of $9.99 billion, a price-to-earnings ratio of 23.91 and a beta of 0.80. 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 company has a fifty day moving average price of $99.65 and a 200 day moving average price of $95.59.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.34%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Wall Street Analyst Weigh In

DTM has been the topic of several analyst reports. Bank of America assumed coverage on DT Midstream in a report on Monday. They set a “buy” rating and a $110.00 price objective on the stock. The Goldman Sachs Group lifted their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Barclays cut 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. Morgan Stanley boosted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Stifel Nicolaus cut their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $104.00.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 1,170 shares of company stock worth $103,357. 0.21% 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.