Mitsubishi UFJ Trust & Banking Corp Sells 683,744 Shares of DT Midstream, Inc. (NYSE:DTM)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 55.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 541,986 shares of the company’s stock after selling 683,744 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in DT Midstream were worth $53,890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DTM. Natixis Advisors LLC increased its position in DT Midstream by 10.6% during the third quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock valued at $1,933,000 after acquiring an additional 2,356 shares during the last quarter. Pathstone Holdings LLC boosted its stake in shares of DT Midstream by 3.3% during the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after purchasing an additional 668 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after purchasing an additional 267,269 shares during the last quarter. Cerity Partners LLC raised its position in DT Midstream by 29.2% in the 3rd 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 period. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of DT Midstream during the third quarter valued at approximately $564,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group began coverage on DT Midstream in a report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price target on the stock. Barclays lowered their target price on shares of 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. The Goldman Sachs Group raised their price target 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 lowered their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Stifel Nicolaus reduced their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $103.45.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 1,170 shares of company stock worth $103,357 over the last quarter. Insiders own 0.21% of the company’s stock.

DT Midstream Stock Down 0.5 %

DT Midstream stock opened at $100.52 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market cap of $10.21 billion, a P/E ratio of 24.46 and a beta of 0.80. The business has a fifty day moving average of $99.86 and a two-hundred day moving average of $95.57. DT Midstream, Inc. has a twelve month low of $59.00 and a twelve month high of $114.50.

DT Midstream Increases Dividend

The business 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. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.26%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) 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.