Duff & Phelps Investment Management Co. Purchases 117,511 Shares of DT Midstream, Inc. (NYSE:DTM)

Duff & Phelps Investment Management Co. grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 43.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 388,578 shares of the company’s stock after buying an additional 117,511 shares during the period. Duff & Phelps Investment Management Co. owned 0.40% of DT Midstream worth $38,636,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream during the third quarter worth about $29,000. AdvisorNet Financial Inc boosted its position in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group bought a new position in DT Midstream during the 3rd quarter valued at approximately $40,000. Finally, UMB Bank n.a. raised its stake in DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after buying an additional 167 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly 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 purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders acquired 1,170 shares of company stock valued at $103,357. Insiders own 0.21% of the company’s stock.

DT Midstream Stock Down 1.1 %

DTM stock opened at $97.15 on Friday. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 23.64 and a beta of 0.80. 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 business’s 50-day moving average is $99.35 and its two-hundred day moving average is $95.60. DT Midstream, Inc. has a fifty-two week low of $59.50 and a fifty-two week high of $114.50.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.38%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is 91.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday. Wells Fargo & Company cut their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. JPMorgan Chase & Co. lifted 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. Morgan Stanley boosted their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.08.

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.