Citizens Financial Group Inc. RI Takes Position in DT Midstream, Inc. (NYSE:DTM)

Citizens Financial Group Inc. RI bought a new position in DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,263 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. State Street Corp raised its holdings in DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares during the period. Geode Capital Management LLC grew its position in shares of DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after purchasing an additional 85,462 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after purchasing an additional 267,269 shares during the period. Brookfield Corp ON lifted its holdings in DT Midstream by 171.3% in 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 in the last quarter. Finally, Reaves W H & Co. Inc. boosted its stake in DT Midstream by 8.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company’s stock worth $97,628,000 after purchasing an additional 74,329 shares during the period. Institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Raymond James lifted their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. UBS Group began coverage on shares of DT Midstream in a report on Wednesday. They set a “buy” rating and a $102.00 price objective for the company. Wells Fargo & Company reduced their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Barclays began coverage on DT Midstream in a research report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 target price on the stock. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $102.00.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders purchased 1,170 shares of company stock worth $103,357. 0.04% of the stock is currently owned by company insiders.

DT Midstream Stock Up 2.9 %

Shares of NYSE:DTM opened at $96.02 on Friday. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 23.36 and a beta of 0.80. DT Midstream, Inc. has a 12 month low of $57.16 and a 12 month high of $114.50. 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 50-day moving average price of $100.78 and a 200 day moving average price of $94.27.

DT Midstream Increases Dividend

The business also recently disclosed 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. This represents a $3.28 annualized dividend and a dividend yield of 3.42%. 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 dividend payout ratio (DPR) is presently 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.