Dynamic Technology Lab Private Ltd Takes $779,000 Position in DT Midstream, Inc. (NYSE:DTM)

Dynamic Technology Lab Private Ltd acquired a new position in DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,830 shares of the company’s stock, valued at approximately $779,000.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System grew its stake 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 boosted its holdings in shares of DT Midstream by 15.0% in the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after buying an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in DT Midstream by 17.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after buying an additional 105 shares during the period. Allspring Global Investments Holdings LLC raised its position in DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock worth $1,235,000 after acquiring an additional 116 shares during the period. Finally, Lakeshore Financial Planning Inc. raised its position in DT Midstream by 4.2% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock worth $285,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on DTM shares. Barclays reduced their price objective on 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. Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group increased their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Williams Trading set a $110.00 target price on shares of DT Midstream in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. upped their price objective on DT Midstream from $109.00 to $115.00 and gave the stock 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $105.08.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company’s stock, 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 legal filing with the SEC, which is available at this hyperlink. Insiders acquired 1,170 shares of company stock valued at $103,357 in the last three months. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Stock Down 8.0 %

Shares of DTM opened at $87.03 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 21.18 and a beta of 0.77. DT Midstream, Inc. has a 1 year low of $61.01 and a 1 year high of $114.50. The business’s 50 day simple moving average is $97.33 and its 200-day simple moving average is $96.69.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.77%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 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.