Duff & Phelps Investment Management Co. Acquires 117,511 Shares of DT Midstream, Inc. (NYSE:DTM)

Duff & Phelps Investment Management Co. increased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 43.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 388,578 shares of the company’s stock after acquiring an additional 117,511 shares during the quarter. Duff & Phelps Investment Management Co.’s holdings in DT Midstream were worth $38,636,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream during the 3rd quarter valued at about $29,000. AdvisorNet Financial Inc lifted its position in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group bought a new position in shares of DT Midstream in the third quarter worth about $40,000. Finally, UMB Bank n.a. lifted its holdings in DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after buying an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have bought 1,170 shares of company stock worth $103,357. 0.21% of the stock is currently owned by insiders.

DT Midstream Stock Down 1.1 %

NYSE:DTM opened at $97.15 on Friday. The company’s 50 day moving average is $99.35 and its two-hundred day moving average is $95.60. The company has a market cap of $9.87 billion, a PE ratio of 23.64 and a beta of 0.80. DT Midstream, Inc. has a twelve month low of $59.50 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.

DT Midstream Increases Dividend

The company 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 represents a $3.28 dividend on an annualized basis and a yield of 3.38%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is currently 91.11%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DTM shares. Bank of America initiated coverage on shares of DT Midstream in a research report on Monday. They set a “buy” rating and a $110.00 target price on the stock. Barclays decreased their target price on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, March 21st. Wells Fargo & Company cut their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Raymond James increased their price objective 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, JPMorgan Chase & Co. lifted their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $105.08.

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.