Meiji Yasuda Asset Management Co Ltd. Acquires New Position in DT Midstream, Inc. (NYSE:DTM)

Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,390 shares of the company’s stock, valued at approximately $238,000.

Several other institutional investors and hedge funds also recently bought and sold shares of DTM. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream during the 3rd quarter worth approximately $29,000. AdvisorNet Financial Inc increased 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 acquiring an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its stake in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after acquiring an additional 163 shares during the last quarter. Brooklyn Investment Group purchased a new stake in DT Midstream in the third quarter valued at $40,000. Finally, UMB Bank n.a. lifted its stake in shares of DT Midstream by 53.2% in 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 last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 1,170 shares of company stock worth $103,357 over the last 90 days. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on DTM shares. Stifel Nicolaus cut their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Raymond James boosted their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Bank of America initiated coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a “buy” rating and a $110.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. upped their price target on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, DT Midstream currently has an average rating of “Hold” and a consensus price target of $105.08.

DT Midstream Trading Down 0.1 %

DTM opened at $96.89 on Friday. The business has a fifty day moving average price of $99.03 and a 200 day moving average price of $95.75. 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 12 month low of $60.54 and a 12 month high of $114.50. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80.

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 dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.39%. 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 is presently 91.11%.

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.