Vanguard Group Inc. Acquires 359,017 Shares of DT Midstream, Inc. (NYSE:DTM)

Vanguard Group Inc. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,553,782 shares of the company’s stock after acquiring an additional 359,017 shares during the period. Vanguard Group Inc. owned approximately 10.86% of DT Midstream worth $1,049,363,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cerity Partners LLC raised its stake in shares of DT Midstream by 29.2% in the third quarter. Cerity Partners LLC now owns 13,996 shares of the company’s stock worth $1,101,000 after purchasing an additional 3,161 shares during the last quarter. FMR LLC raised its position in DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares during the last quarter. Brooklyn Investment Group purchased a new stake in DT Midstream in the 3rd quarter valued at $40,000. Townsquare Capital LLC boosted its holdings in DT Midstream by 43.2% during the 3rd quarter. Townsquare Capital LLC now owns 7,228 shares of the company’s stock worth $569,000 after acquiring an additional 2,181 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of DT Midstream by 7.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,632 shares of the company’s stock valued at $1,702,000 after acquiring an additional 1,446 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DTM. Wells Fargo & Company decreased their price target 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. UBS Group boosted their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Barclays cut their price target on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $105.08.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $96.89 on Friday. The company has a 50 day moving average of $99.03 and a 200 day moving average of $95.75. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. DT Midstream, Inc. has a 12 month low of $60.54 and a 12 month high of $114.50.

DT Midstream Increases Dividend

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

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream 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 completion of the transaction, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have acquired 1,170 shares of company stock worth $103,357. Corporate 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.