Brasada Capital Management LP Trims Holdings in DT Midstream, Inc. (NYSE:DTM)

Brasada Capital Management LP reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,696 shares of the company’s stock after selling 4,016 shares during the period. Brasada Capital Management LP’s holdings in DT Midstream were worth $1,652,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its stake in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. AdvisorNet Financial Inc increased its position 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 in the last quarter. Sound Income Strategies LLC increased its position 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream during the third quarter valued at $29,000. Finally, UMB Bank n.a. boosted its holdings in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after acquiring an additional 167 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on DT Midstream from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Friday, April 11th. Raymond James upped their target price 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. Morgan Stanley increased their price target on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday, March 25th. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday, March 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $104.67.

DT Midstream Stock Performance

Shares of DTM opened at $95.44 on Wednesday. The firm has a market capitalization of $9.70 billion, a P/E ratio of 23.22 and a beta of 0.77. 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 one year low of $61.01 and a one year high of $114.50. The business has a fifty day moving average of $95.12 and a 200 day moving average of $97.76.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were 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 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Monday, March 17th. DT Midstream’s payout ratio is currently 91.11%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The stock was purchased 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. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

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.