HighPoint Advisor Group LLC Increases Stock Position in DT Midstream, Inc. (NYSE:DTM)

HighPoint Advisor Group LLC grew its holdings in DT Midstream, Inc. (NYSE:DTM) by 3.0% during the 4th quarter, Holdings Channel reports. The firm owned 7,135 shares of the company’s stock after buying an additional 208 shares during the period. HighPoint Advisor Group LLC’s holdings in DT Midstream were worth $713,000 at the end of the most recent reporting period.

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

DT Midstream Price Performance

DTM opened at $98.00 on Wednesday. The company has a 50 day moving average of $98.40 and a two-hundred day moving average of $96.35. DT Midstream, Inc. has a 52-week low of $61.01 and a 52-week high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.96 billion, a P/E ratio of 23.84 and a beta of 0.80.

DT Midstream Increases Dividend

The business 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 is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.35%. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is currently 91.11%.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, March 10th. The stock was acquired 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 owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 1,170 shares of company stock valued at $103,357 over the last three months. 0.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays reduced their price objective on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Williams Trading set a $110.00 target price on DT Midstream in a research note on Monday, March 24th. Bank of America began coverage on DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 target price on the stock. Finally, The Goldman Sachs Group lifted their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Two 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $105.08.

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.