HighPoint Advisor Group LLC Increases Stock Position in DT Midstream, Inc. (NYSE:DTM)

HighPoint Advisor Group LLC grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,135 shares of the company’s stock after purchasing an additional 208 shares during the quarter. HighPoint Advisor Group LLC’s holdings in DT Midstream were worth $713,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after buying an additional 359,017 shares during the last quarter. State Street Corp grew its position in shares of DT Midstream by 6.4% during the third 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 last quarter. Geode Capital Management LLC increased its holdings in shares of DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares during the period. Norges Bank purchased a new stake in DT Midstream in the 4th quarter valued at $119,520,000. Finally, Brookfield Corp ON boosted its stake in DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $98.00 on Wednesday. The firm’s fifty day simple moving average is $98.40 and its 200-day simple moving average is $96.35. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.96 billion, a PE ratio of 23.84 and a beta of 0.80. DT Midstream, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $114.50.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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. This represents a $3.28 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio is presently 91.11%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on DTM shares. Stifel Nicolaus dropped their price objective 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. UBS Group upped their price objective on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Wells Fargo & Company lowered their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Barclays cut their price target on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.08.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on 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 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 acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders purchased 1,170 shares of company stock worth $103,357. Company insiders own 0.04% of the company’s stock.

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.