Dimensional Fund Advisors LP Sells 695,896 Shares of DT Midstream, Inc. (NYSE:DTM)

Dimensional Fund Advisors LP reduced its position in DT Midstream, Inc. (NYSE:DTM) by 15.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,725,221 shares of the company’s stock after selling 695,896 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.83% of DT Midstream worth $370,403,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream during the 3rd quarter worth about $29,000. Bessemer Group Inc. raised its position in DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. AdvisorNet Financial Inc lifted its stake in DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC boosted its holdings in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares in the last quarter. Finally, UMB Bank n.a. boosted its holdings in 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. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now 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 hyperlink. Corporate insiders own 0.34% of the company’s stock.

DT Midstream Stock Up 1.3 %

Shares of DTM opened at $96.84 on Friday. The business’s fifty day moving average price is $95.35 and its two-hundred day moving average price is $97.61. The firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.56 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 has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were issued a $0.82 dividend. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.39%. DT Midstream’s dividend payout ratio (DPR) is currently 91.11%.

Analyst Upgrades and Downgrades

DTM has been the subject of several analyst reports. Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. US Capital Advisors upgraded shares of DT Midstream from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. 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. Finally, Morgan Stanley raised their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.67.

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.