DT Midstream, Inc. (NYSE:DTM) Shares Bought by LPL Financial LLC

LPL Financial LLC raised its stake in DT Midstream, Inc. (NYSE:DTM) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 81,602 shares of the company’s stock after purchasing an additional 15,733 shares during the quarter. LPL Financial LLC owned 0.08% of DT Midstream worth $8,114,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Louisiana State Employees Retirement System grew its position in DT Midstream by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock valued at $2,685,000 after buying an additional 100 shares during the last quarter. 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 valued at $76,000 after acquiring an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of DT Midstream by 17.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock worth $69,000 after acquiring an additional 105 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in DT Midstream by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock worth $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. lifted 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 valued at $285,000 after purchasing an additional 116 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Down 8.0 %

Shares of NYSE DTM opened at $87.03 on Friday. 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 firm’s 50-day moving average is $97.33 and its two-hundred day moving average is $96.56. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50. The company has a market capitalization of $8.84 billion, a PE ratio of 21.18 and a beta of 0.77.

DT Midstream Increases Dividend

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

Analysts Set New Price Targets

DTM has been the topic of several recent analyst reports. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Raymond James raised their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. UBS Group upped their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Stifel Nicolaus decreased their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two equities 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $105.08.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The shares were bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, 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 the SEC website. Over the last 90 days, insiders purchased 1,170 shares of company stock valued at $103,357. Corporate insiders own 0.04% of the company’s stock.

DT Midstream Company 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.