National Bank of Canada FI Takes $3 Million Position in DT Midstream, Inc. (NYSE:DTM)

National Bank of Canada FI purchased a new stake in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 30,160 shares of the company’s stock, valued at approximately $3,002,000.

Other hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in DT Midstream during the third quarter worth about $29,000. AdvisorNet Financial Inc grew its stake in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after buying an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its holdings in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares in the last quarter. UMB Bank n.a. raised its holdings in DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after buying an additional 167 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in shares of DT Midstream during the fourth quarter valued at $50,000. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DTM has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley boosted their price objective on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Finally, Stifel Nicolaus reduced their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $105.08.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders have purchased 1,170 shares of company stock worth $103,357. 0.04% of the stock is owned by company insiders.

DT Midstream Stock Up 1.4 %

DTM stock opened at $88.49 on Tuesday. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 21.53 and a beta of 0.77. 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. The stock has a fifty day moving average of $97.16 and a 200-day moving average of $96.78.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.82 per share. 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 dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio is presently 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.