Corebridge Financial Inc. Trims Stock Position in DT Midstream, Inc. (NYSE:DTM)

Corebridge Financial Inc. decreased its position in DT Midstream, Inc. (NYSE:DTM) by 4.3% in the fourth quarter, Holdings Channel reports. The firm owned 109,934 shares of the company’s stock after selling 4,905 shares during the period. Corebridge Financial Inc.’s holdings in DT Midstream were worth $10,931,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after buying an additional 359,017 shares in the last quarter. LPL Financial LLC increased its holdings in shares of DT Midstream by 23.9% in the 4th quarter. LPL Financial LLC now owns 81,602 shares of the company’s stock valued at $8,114,000 after acquiring an additional 15,733 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of DT Midstream in the 4th quarter worth $2,011,000. Forefront Wealth Management Inc. purchased a new stake in shares of DT Midstream during the 4th quarter worth $221,000. Finally, Sei Investments Co. boosted its position in DT Midstream by 0.6% during the fourth quarter. Sei Investments Co. now owns 66,539 shares of the company’s stock valued at $6,616,000 after purchasing an additional 422 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research note on Monday. Stifel Nicolaus reduced their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group boosted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Morgan Stanley upped their target price on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Bank of America started coverage on DT Midstream in a report on Monday. They issued a “buy” rating and a $110.00 price target for the company. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $104.00.

DT Midstream Trading Down 2.2 %

DT Midstream stock opened at $98.29 on Thursday. The stock has a 50-day moving average price of $99.65 and a 200 day moving average price of $95.59. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 23.91 and a beta of 0.80. DT Midstream, Inc. has a 52 week low of $59.03 and a 52 week high of $114.50. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.34%. DT Midstream’s dividend payout ratio (DPR) is currently 91.11%.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 1,170 shares of company stock worth $103,357. Company insiders own 0.21% 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.