DT Midstream, Inc. (NYSE:DTM) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 5.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 5,985 shares of the company’s stock after purchasing an additional 335 shares during the quarter. Parallel Advisors LLC’s holdings in DT Midstream were worth $595,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock valued at $2,685,000 after purchasing an additional 100 shares during the period. Jones Financial Companies Lllp increased its position in shares of DT Midstream by 15.0% during the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after purchasing an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in shares of DT Midstream by 17.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after purchasing an additional 105 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of DT Midstream by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after purchasing an additional 116 shares during the period. Finally, Larson Financial Group LLC increased its position in shares of DT Midstream by 21.1% during the 4th quarter. Larson Financial Group LLC now owns 683 shares of the company’s stock valued at $68,000 after purchasing an additional 119 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Raymond James lifted their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. JPMorgan Chase & Co. lifted their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company decreased their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $102.00.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 1,170 shares of company stock valued at $103,357. Insiders own 0.04% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $99.24 on Friday. DT Midstream, Inc. has a 1-year low of $58.25 and a 1-year high of $114.50. 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 company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 24.15 and a beta of 0.80. The stock’s fifty day simple moving average is $100.24 and its 200-day simple moving average is $94.84.

DT Midstream Increases Dividend

The company also recently disclosed 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. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.31%. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

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.