Dorsey Wright & Associates Has $6.01 Million Stake in DT Midstream, Inc. (NYSE:DTM)

Dorsey Wright & Associates boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,400 shares of the company’s stock after buying an additional 212 shares during the quarter. DT Midstream makes up approximately 1.4% of Dorsey Wright & Associates’ portfolio, making the stock its 16th biggest position. Dorsey Wright & Associates’ holdings in DT Midstream were worth $6,006,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of DT Midstream in the fourth quarter worth approximately $119,520,000. FMR LLC lifted its position in shares of DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after purchasing an additional 754,839 shares during the period. Brookfield Corp ON lifted its position in shares of DT Midstream by 171.3% in the 3rd 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 during the period. Vanguard Group Inc. increased its position in shares of DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after buying an additional 359,017 shares during the period. Finally, Bahl & Gaynor Inc. bought a new position in DT Midstream during the fourth quarter worth $21,475,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 0.1 %

NYSE:DTM opened at $96.89 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a one year low of $60.54 and a one year high of $114.50. The company has a market cap of $9.84 billion, a PE ratio of 23.57 and a beta of 0.80. The firm has a 50-day moving average of $99.03 and a 200-day moving average of $95.90.

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. This is a positive change 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%. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is currently 91.11%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Raymond James upped their price target 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. JPMorgan Chase & Co. raised their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. UBS Group boosted their price target on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Barclays lowered 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 note on Friday, March 21st. Finally, The Goldman Sachs Group increased their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $105.08.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the 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 completion of the acquisition, 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 legal filing with the SEC, which can be accessed through this hyperlink. Insiders have purchased 1,170 shares of company stock worth $103,357 over the last 90 days. 0.21% of the stock is currently owned by corporate 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.