Wealthspire Advisors LLC Cuts Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Wealthspire Advisors LLC reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 26.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,645 shares of the company’s stock after selling 960 shares during the quarter. Wealthspire Advisors LLC’s holdings in DT Midstream were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. State Street Corp grew its position in DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares in the last quarter. Geode Capital Management LLC lifted its stake in DT Midstream by 4.3% during the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after purchasing an additional 85,462 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares in the last quarter. Brookfield Corp ON increased its position in shares of DT Midstream by 171.3% during the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of DT Midstream by 1,476.9% during 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 in the last quarter. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on DTM shares. The Goldman Sachs Group upped their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Raymond James upped their price objective 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. Wells Fargo & Company lifted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Barclays began coverage on shares of DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. Finally, Stifel Nicolaus decreased their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $101.11.

DT Midstream Price Performance

DTM opened at $92.92 on Friday. DT Midstream, Inc. has a 1 year low of $56.60 and a 1 year high of $114.50. The stock has a 50-day moving average price of $102.73 and a 200-day moving average price of $92.95. The firm has a market cap of $9.03 billion, a PE ratio of 22.61 and a beta of 0.79. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.53%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

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.