Harbour Investments Inc. Decreases Stock Position in DT Midstream, Inc. (NYSE:DTM)

Harbour Investments Inc. lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 39.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,264 shares of the company’s stock after selling 825 shares during the quarter. Harbour Investments Inc.’s holdings in DT Midstream were worth $126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its holdings 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 buying an additional 100 shares during the period. Jones Financial Companies Lllp raised its holdings in DT Midstream by 15.0% during the 4th 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 DT Midstream by 17.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after buying an additional 105 shares during the period. Allspring Global Investments Holdings LLC grew its position in DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after acquiring an additional 116 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in DT Midstream by 21.1% in the 4th quarter. Larson Financial Group LLC now owns 683 shares of the company’s stock valued at $68,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of DTM stock opened at $96.88 on Friday. DT Midstream, Inc. has a 1-year low of $59.00 and a 1-year high of $114.50. The stock’s 50-day moving average is $100.10 and its 200 day moving average is $95.09. The company has a market cap of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 represents a $3.28 dividend on an annualized basis and a yield of 3.39%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 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 purchase, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 1,170 shares of company stock valued at $103,357 over the last quarter. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. upped their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. 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 research report on Friday, February 28th. Barclays dropped their price target on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday. UBS Group started coverage on DT Midstream in a research report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price target on the stock. Finally, Raymond James increased their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and an average price target of $101.50.

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.