Corebridge Financial Inc. Sells 4,905 Shares of DT Midstream, Inc. (NYSE:DTM)

Corebridge Financial Inc. trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 109,934 shares of the company’s stock after selling 4,905 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of DT Midstream worth $10,931,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream during the 3rd quarter valued at $29,000. AdvisorNet Financial Inc increased its position in DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after acquiring an additional 163 shares during the period. Brooklyn Investment Group purchased a new position in DT Midstream in the third quarter worth about $40,000. Finally, UMB Bank n.a. grew its stake 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 valued at $48,000 after purchasing an additional 167 shares during the period. Institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on DTM shares. Barclays lowered their price objective on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company dropped 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 note on Friday, February 28th. The Goldman Sachs Group upped 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. JPMorgan Chase & Co. lifted their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, UBS Group started coverage on DT Midstream in a research report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price target for the company. Two 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.00.

DT Midstream Trading Down 2.2 %

Shares of DTM opened at $98.29 on Thursday. The firm has a market cap of $9.99 billion, a P/E ratio of 23.91 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 1 year low of $59.03 and a 1 year high of $114.50. The company has a 50 day simple moving average of $99.65 and a two-hundred day simple moving average of $95.59.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.34%. This is a boost 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%.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were bought 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 directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders have purchased 1,170 shares of company stock worth $103,357. Insiders own 0.21% of the company’s stock.

DT Midstream 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.