Citizens Financial Group Inc. RI Takes $225,000 Position in DT Midstream, Inc. (NYSE:DTM)

Citizens Financial Group Inc. RI purchased a new position in DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,263 shares of the company’s stock, valued at approximately $225,000.

Other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its position in 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 in the last quarter. Jones Financial Companies Lllp increased its stake in shares of DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after buying an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after acquiring an additional 105 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake 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, Larson Financial Group LLC grew its holdings in DT Midstream by 21.1% during the 4th quarter. Larson Financial Group LLC now owns 683 shares of the company’s stock worth $68,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on DTM. Wells Fargo & Company reduced their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Barclays began coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price for the company. The Goldman Sachs Group lifted their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. UBS Group assumed coverage on DT Midstream in a research report on Wednesday. They issued a “buy” rating and a $102.00 price target for the company. Finally, Stifel Nicolaus cut their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $102.00.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This 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. In the last 90 days, insiders bought 1,170 shares of company stock valued at $103,357. 0.04% of the stock is owned by company insiders.

DT Midstream Trading Up 2.9 %

Shares of DT Midstream stock opened at $96.02 on Friday. The firm’s 50 day simple moving average is $100.78 and its two-hundred day simple moving average is $94.27. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 23.36 and a beta of 0.80. DT Midstream, Inc. has a 12-month low of $57.16 and a 12-month high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.82 dividend. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.42%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

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.