Premier Fund Managers Ltd Has $2.80 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Premier Fund Managers Ltd cut its stake in DT Midstream, Inc. (NYSE:DTM) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,000 shares of the company’s stock after selling 2,000 shares during the period. Premier Fund Managers Ltd’s holdings in DT Midstream were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its stake in shares of DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC lifted its position in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after acquiring an additional 163 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of DT Midstream in the 3rd quarter worth approximately $29,000. UMB Bank n.a. grew its holdings in shares of DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in shares of DT Midstream in the fourth quarter valued at $50,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Trading Down 1.1 %

DTM stock opened at $97.15 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 23.64 and a beta of 0.80. The business has a fifty day moving average price of $99.35 and a 200 day moving average price of $95.60. DT Midstream, Inc. has a fifty-two week low of $59.50 and a fifty-two week high of $114.50.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is currently 91.11%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have purchased a total of 1,170 shares of company stock worth $103,357 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DTM. Williams Trading set a $110.00 price target on shares of DT Midstream in a research note on Monday. Bank of America began 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. Stifel Nicolaus dropped their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Raymond James increased their target price on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.