Orion Portfolio Solutions LLC Sells 9,563 Shares of DT Midstream, Inc. (NYSE:DTM)

Orion Portfolio Solutions LLC lessened its position in shares of DT Midstream, Inc. (NYSE:DTM) by 42.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,850 shares of the company’s stock after selling 9,563 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in DT Midstream were worth $1,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of DT Midstream during the fourth quarter worth $119,520,000. FMR LLC increased its position in 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. Brookfield Corp ON raised its stake in DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after buying an additional 655,695 shares during the last quarter. Vanguard Group Inc. boosted its holdings in DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after acquiring an additional 359,017 shares in the last quarter. Finally, Bahl & Gaynor Inc. acquired a new stake in DT Midstream in the fourth quarter worth about $21,475,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 1,170 shares of company stock worth $103,357 in the last three months. Company insiders own 0.04% of the company’s stock.

DT Midstream Stock Down 8.0 %

Shares of DTM stock opened at $87.03 on Friday. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The stock has a market cap of $8.84 billion, a P/E ratio of 21.18 and a beta of 0.80. The stock has a 50 day moving average of $97.33 and a 200 day moving average of $96.42. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.77%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is 91.11%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DTM shares. Stifel Nicolaus decreased their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. 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 report on Friday, February 28th. Raymond James boosted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group raised 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. Finally, JPMorgan Chase & Co. boosted their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, DT Midstream currently has an average rating of “Hold” and a consensus 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.