ELCO Management Co. LLC Invests $221,000 in DT Midstream, Inc. (NYSE:DTM)

ELCO Management Co. LLC bought a new stake in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,225 shares of the company’s stock, valued at approximately $221,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in shares of DT Midstream during the third quarter valued at $29,000. AdvisorNet Financial Inc increased its stake in 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 buying an additional 160 shares during the period. Sound Income Strategies LLC increased its stake in 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 buying an additional 163 shares during the period. UMB Bank n.a. raised its position in shares of DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after buying an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of DT Midstream in the 4th quarter worth approximately $50,000. Institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stifel Nicolaus lowered 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. Wells Fargo & Company dropped their price objective 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. UBS Group raised their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Williams Trading set a $110.00 price target on shares of DT Midstream in a research report on Monday, March 24th. Finally, Raymond James lifted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $105.08.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 1,170 shares of company stock worth $103,357 over the last quarter. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Stock Down 0.2 %

DTM stock opened at $88.49 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $8.99 billion, a P/E ratio of 21.53 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $61.01 and a 52-week high of $114.50. The company’s 50 day simple moving average is $96.70 and its 200-day simple moving average is $96.79.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.71%. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is 91.11%.

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.