New Age Alpha Advisors LLC Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

New Age Alpha Advisors LLC acquired a new stake in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,312 shares of the company’s stock, valued at approximately $2,318,000.

Several other institutional investors and hedge funds have also modified their holdings of DTM. Wellington Management Group LLP lifted its stake in shares of DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares during the period. Friedenthal Financial purchased a new position in DT Midstream during the fourth quarter worth about $764,000. Truist Financial Corp purchased a new position in DT Midstream during the fourth quarter worth about $771,000. State Street Corp boosted its stake in DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after buying an additional 202,447 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in DT Midstream in the 3rd quarter valued at about $877,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 0.1 %

Shares of NYSE:DTM opened at $96.89 on Friday. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80. The company has a 50 day moving average of $99.03 and a two-hundred day moving average of $95.90. DT Midstream, Inc. has a 52-week low of $60.54 and a 52-week high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

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 paid a dividend of $0.82 per share. This is an increase 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 annualized dividend and a yield of 3.39%. DT Midstream’s payout ratio is 91.11%.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average cost 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 $3,359,718.76. The trade was 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 the SEC website. Insiders have bought 1,170 shares of company stock worth $103,357 in the last quarter. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on DTM. Stifel Nicolaus decreased 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. Barclays lowered their price objective 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. Morgan Stanley increased their target price on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 25th. Bank of America began coverage on DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price target for the company. Finally, Wells Fargo & Company cut their price objective 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 investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $105.08.

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.