TIAA Trust National Association Cuts Position in DT Midstream, Inc. (NYSE:DTM)

TIAA Trust National Association lowered its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 15.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,262 shares of the company’s stock after selling 582 shares during the quarter. TIAA Trust National Association’s holdings in DT Midstream were worth $324,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after buying an additional 359,017 shares in the last quarter. State Street Corp lifted its holdings in 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 purchasing an additional 202,447 shares in the last quarter. Geode Capital Management LLC grew its position in shares of DT Midstream by 4.3% in the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after purchasing an additional 85,462 shares during the period. Brookfield Corp ON increased its stake in shares of DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after purchasing an additional 655,695 shares in the last quarter. Finally, Reaves W H & Co. Inc. raised its position in shares of DT Midstream by 8.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company’s stock worth $97,628,000 after purchasing an additional 74,329 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DTM has been the topic of several research analyst reports. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday. Stifel Nicolaus dropped their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group increased their price objective on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Morgan Stanley lifted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Raymond James increased their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Two equities research 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. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average price target of $105.08.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders acquired 1,170 shares of company stock worth $103,357. Company insiders own 0.21% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $96.89 on Friday. The company’s 50-day moving average is $99.03 and its two-hundred day moving average is $95.75. DT Midstream, Inc. has a 1-year low of $60.54 and a 1-year high of $114.50. 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 firm has a market capitalization of $9.84 billion, a price-to-earnings ratio of 23.57 and a beta of 0.80.

DT Midstream Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. DT Midstream’s dividend payout ratio is currently 91.11%.

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.