OneAscent Financial Services LLC Buys New Holdings in DT Midstream, Inc. (NYSE:DTM)

OneAscent Financial Services LLC purchased a new position in DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,014 shares of the company’s stock, valued at approximately $201,000.

A number of other institutional investors have also added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream during the third quarter worth $29,000. AdvisorNet Financial Inc boosted its holdings in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. UMB Bank n.a. grew its position in shares of 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 purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of DT Midstream in the fourth quarter worth about $50,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

Shares of DTM stock opened at $87.03 on Friday. The stock has a 50 day moving average price of $97.33 and a 200 day moving average price of $96.42. The firm has a market capitalization of $8.84 billion, a P/E ratio of 21.18 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. DT Midstream, Inc. has a 52-week low of $61.01 and a 52-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. Stockholders of record on Monday, March 17th will be paid 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 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is currently 91.11%.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were acquired 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. The trade was a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have purchased 1,170 shares of company stock worth $103,357. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of research reports. 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 research note on Thursday, December 19th. Wells Fargo & Company reduced their price target 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. Barclays lowered their price objective on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Williams Trading set a $110.00 target price on shares of DT Midstream in a report on Monday, March 24th. Finally, Stifel Nicolaus lowered their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Two 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.