Sanctuary Advisors LLC Sells 819 Shares of DT Midstream, Inc. (NYSE:DTM)

Sanctuary Advisors LLC cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 17.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,876 shares of the company’s stock after selling 819 shares during the period. Sanctuary Advisors LLC’s holdings in DT Midstream were worth $398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in DT Midstream by 225.4% during the third 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 last quarter. Friedenthal Financial acquired a new position in shares of DT Midstream during the fourth quarter worth $764,000. Atria Investments Inc acquired a new position in shares of DT Midstream during the third quarter worth $666,000. Bridgewater Associates LP increased its holdings in shares of DT Midstream by 57.6% during the third quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after buying an additional 67,725 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of DT Midstream by 6.4% during the third 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 in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

NYSE DTM opened at $94.52 on Tuesday. The company has a market capitalization of $9.58 billion, a price-to-earnings ratio of 23.00 and a beta of 0.79. DT Midstream, Inc. has a twelve month low of $57.16 and a twelve month high of $114.50. The stock has a fifty day simple moving average of $102.49 and a 200 day simple moving average of $93.53. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 3.47%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is presently 91.11%.

Analyst Ratings Changes

Several brokerages have recently issued reports on DTM. The Goldman Sachs Group upped their price target 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. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Stifel Nicolaus lowered their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Barclays assumed coverage on shares of DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $102.00.

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.