Axxcess Wealth Management LLC Makes New $764,000 Investment in DT Midstream, Inc. (NYSE:DTM)

Axxcess Wealth Management LLC acquired a new stake in DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, Holdings Channel.com reports. The firm acquired 7,687 shares of the company’s stock, valued at approximately $764,000.

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

Analyst Ratings Changes

DTM has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Stifel Nicolaus dropped their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Raymond James raised their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $102.00.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of DT Midstream stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 1,170 shares of company stock worth $103,357 in the last three months. Insiders own 0.04% of the company’s stock.

DT Midstream Stock Up 0.5 %

DTM opened at $99.24 on Friday. The business has a 50 day moving average price of $100.24 and a two-hundred day moving average price of $94.84. DT Midstream, Inc. has a 52 week low of $58.25 and a 52 week high of $114.50. The company has a market cap of $10.08 billion, a PE ratio of 24.15 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

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 dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.31%. DT Midstream’s dividend payout ratio (DPR) is currently 91.11%.

DT Midstream Company 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.