DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Invesco Ltd.

Invesco Ltd. grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 24.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,487,901 shares of the company’s stock after buying an additional 294,583 shares during the period. Invesco Ltd.’s holdings in DT Midstream were worth $147,942,000 at the end of the most recent reporting period.

Other institutional investors 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 approximately $29,000. AdvisorNet Financial Inc lifted its stake in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares during the last quarter. UMB Bank n.a. grew its position in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after purchasing an additional 167 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in DT Midstream in the fourth quarter valued at $50,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

DTM stock opened at $92.58 on Friday. The firm has a market cap of $9.41 billion, a P/E ratio of 22.53 and a beta of 0.77. 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, Inc. has a 1 year low of $61.01 and a 1 year high of $114.50. The stock has a 50-day simple moving average of $95.93 and a 200-day simple moving average of $97.03.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. This is an increase 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 yield of 3.54%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DTM. Barclays decreased their price target on DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America began coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a “buy” rating and a $110.00 target price for the company. Morgan Stanley increased their price target on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 25th. 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 report on Friday, January 24th. Finally, Stifel Nicolaus cut their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average price target of $104.67.

Insider Activity

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have bought 1,170 shares of company stock worth $103,357 over the last 90 days. Company insiders own 0.04% of the company’s stock.

About DT Midstream

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.