DT Midstream, Inc. (NYSE:DTM) Stake Lessened by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 6.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 26,319 shares of the company’s stock after selling 1,791 shares during the period. Brandywine Global Investment Management LLC’s holdings in DT Midstream were worth $2,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its position 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 grew its holdings in DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after acquiring an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in DT Midstream by 17.8% in 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 in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of DT Midstream by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Lakeshore Financial Planning Inc. grew its stake in shares of DT Midstream by 4.2% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock worth $285,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 1.5 %

DT Midstream stock opened at $99.57 on Thursday. 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, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50. The company’s fifty day simple moving average is $98.16 and its 200-day simple moving average is $96.37. The stock has a market cap of $10.12 billion, a P/E ratio of 24.23 and a beta of 0.80.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.29%. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is presently 91.11%.

Wall Street Analyst Weigh In

Several analysts recently commented on DTM shares. JPMorgan Chase & Co. increased their target price 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. Williams Trading set a $110.00 target price on DT Midstream in a research report on Monday, March 24th. Raymond James increased their price target on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Wells Fargo & Company cut their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Finally, Barclays decreased their target price on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $105.08.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought 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.

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.