Nemes Rush Group LLC Increases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Nemes Rush Group LLC grew its position in DT Midstream, Inc. (NYSE:DTM) by 34.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,460 shares of the company’s stock after purchasing an additional 375 shares during the period. Nemes Rush Group LLC’s holdings in DT Midstream were worth $145,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTM. Vanguard Group Inc. raised its position in DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after purchasing an additional 359,017 shares during the period. State Street Corp increased its position in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of DT Midstream by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after acquiring an additional 85,462 shares during the period. Norges Bank acquired a new position in shares of DT Midstream in the 4th quarter worth approximately $119,520,000. Finally, Brookfield Corp ON increased its holdings in DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They issued a “buy” rating and a $110.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. UBS Group increased their target price on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. 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. Finally, The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $105.08.

DT Midstream Price Performance

Shares of NYSE DTM opened at $98.00 on Wednesday. The stock’s 50-day simple moving average is $98.40 and its 200-day simple moving average is $96.35. The firm has a market capitalization of $9.96 billion, a PE ratio of 23.84 and a beta of 0.80. DT Midstream, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.35%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders purchased 1,170 shares of company stock worth $103,357. 0.04% of the stock is currently owned by insiders.

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.