Forefront Wealth Management Inc. Invests $221,000 in DT Midstream, Inc. (NYSE:DTM)

Forefront Wealth Management Inc. bought a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,225 shares of the company’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of DT Midstream by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after acquiring an additional 100,825 shares in the last quarter. Friedenthal Financial acquired a new position in shares of DT Midstream in the 4th quarter worth approximately $764,000. Truist Financial Corp acquired a new position in shares of DT Midstream in the 4th quarter worth approximately $771,000. Bridgewater Associates LP boosted its holdings in shares of DT Midstream by 57.6% in the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after acquiring an additional 67,725 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $96.88 on Friday. The firm has a fifty day moving average of $100.10 and a two-hundred day moving average of $94.96. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80. DT Midstream, Inc. has a 52 week low of $59.00 and a 52 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 firm also recently announced 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. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. DT Midstream’s payout ratio is presently 91.11%.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. In the last 90 days, insiders acquired 1,170 shares of company stock worth $103,357. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on DTM shares. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Stifel Nicolaus dropped their price objective 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. Wells Fargo & Company dropped their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Raymond James boosted their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Barclays dropped their price objective on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $101.50.

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.