Intech Investment Management LLC Takes $999,000 Position in DT Midstream, Inc. (NYSE:DTM)

Intech Investment Management LLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 10,044 shares of the company’s stock, valued at approximately $999,000.

Several other large investors have also modified their holdings of the business. State Street Corp grew its position in shares of 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. Geode Capital Management LLC grew its position in shares of DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after buying an additional 85,462 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the last quarter. Brookfield Corp ON grew its position in shares of DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after buying an additional 655,695 shares during the last quarter. Finally, Reaves W H & Co. Inc. grew its position in shares of DT Midstream by 8.2% in the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company’s stock worth $97,628,000 after buying an additional 74,329 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 2.4 %

DTM stock opened at $96.88 on Friday. The firm’s fifty day simple moving average is $100.10 and its 200-day simple moving average is $95.09. The company has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a 12 month low of $59.00 and a 12 month high of $114.50.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is 91.11%.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired 1,170 shares of company stock valued at $103,357 in the last ninety days. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Barclays cut their price objective on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday. Raymond James boosted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, UBS Group began coverage on shares of DT Midstream in a research report on Wednesday, March 12th. They set a “buy” rating and a $102.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $101.50.

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.