EverSource Wealth Advisors LLC Has $340,000 Position in DT Midstream, Inc. (NYSE:DTM)

EverSource Wealth Advisors LLC raised its stake in DT Midstream, Inc. (NYSE:DTM) by 19.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,419 shares of the company’s stock after acquiring an additional 552 shares during the period. EverSource Wealth Advisors LLC’s holdings in DT Midstream were worth $340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC boosted its holdings in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares during the last quarter. Brookfield Corp ON boosted its stake 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 valued at $81,689,000 after purchasing an additional 655,695 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of DT Midstream by 30.1% during the third 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 period. Bahl & Gaynor Inc. bought a new position in DT Midstream during the fourth quarter worth $21,475,000. Finally, State Street Corp lifted its holdings in DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Up 2.9 %

DT Midstream stock opened at $96.02 on Friday. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 23.36 and a beta of 0.80. The firm’s fifty day moving average price is $100.78 and its two-hundred day moving average price is $94.40. DT Midstream, Inc. has a 1-year low of $57.45 and a 1-year 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.42%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 1,170 shares of company stock valued at $103,357. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DTM shares. The Goldman Sachs Group lifted their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Raymond James boosted their price target on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Wells Fargo & Company dropped their target price 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. Finally, Barclays initiated coverage on shares of DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and a consensus price target of $102.00.

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.