Forefront Wealth Management Inc. Acquires New Shares in DT Midstream, Inc. (NYSE:DTM)

Forefront Wealth Management Inc. acquired a new stake in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,225 shares of the company’s stock, valued at approximately $221,000.

A number of other large investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in DT Midstream by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares during the period. Friedenthal Financial acquired a new position in DT Midstream in the 4th quarter worth $764,000. Truist Financial Corp acquired a new position in DT Midstream in the 4th quarter worth $771,000. Bridgewater Associates LP boosted its stake in DT Midstream by 57.6% in the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after purchasing an additional 67,725 shares during the period. Finally, State Street Corp boosted its stake in DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares during the period. Institutional investors own 81.53% of the company’s stock.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders bought 1,170 shares of company stock worth $103,357. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on DTM shares. 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. The Goldman Sachs Group upped their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Wells Fargo & Company reduced their target price on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Stifel Nicolaus reduced their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, UBS Group started coverage on shares of DT Midstream in a research note on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective for the company. 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.com, DT Midstream presently has an average rating of “Hold” and an average target price of $101.50.

DT Midstream Trading Down 2.4 %

Shares of NYSE:DTM opened at $96.88 on Friday. DT Midstream, Inc. has a 52-week low of $59.00 and a 52-week high of $114.50. The company has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. The company has a 50-day simple moving average of $100.10 and a 200 day simple moving average of $94.96. 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 announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.82 dividend. 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 3.39%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio (DPR) 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.