Brooklyn FI LLC Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

Brooklyn FI LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, Holdings Channel reports. The institutional investor bought 4,864 shares of the company’s stock, valued at approximately $463,000.

A number of other large investors have also modified their holdings of DTM. Atria Investments Inc acquired a new stake in shares of DT Midstream in the 3rd quarter worth about $666,000. Victory Capital Management Inc. increased its holdings in shares of DT Midstream by 151.8% in the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock worth $8,918,000 after acquiring an additional 68,350 shares during the period. Natixis Advisors LLC increased its holdings in shares of DT Midstream by 10.6% in the 3rd quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock worth $1,933,000 after acquiring an additional 2,356 shares during the period. Pathstone Holdings LLC increased its holdings in shares of DT Midstream by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after acquiring an additional 668 shares during the period. Finally, Caprock Group LLC increased its holdings in shares of DT Midstream by 3.7% in the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after acquiring an additional 143 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 1,170 shares of company stock worth $103,357. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on DTM. Barclays began coverage on shares of DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price objective on the stock. Stifel Nicolaus lowered their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. The Goldman Sachs Group raised their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Raymond James raised their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Two investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.00.

DT Midstream Stock Performance

NYSE:DTM opened at $98.80 on Thursday. DT Midstream, Inc. has a twelve month low of $57.95 and a twelve 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. The company has a 50-day moving average of $100.37 and a 200-day moving average of $94.80. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 24.04 and a beta of 0.80.

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 given a dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.32%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

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.