Bessemer Group Inc. Acquires 117 Shares of DT Midstream, Inc. (NYSE:DTM)

Bessemer Group Inc. grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 61.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307 shares of the company’s stock after buying an additional 117 shares during the quarter. Bessemer Group Inc.’s holdings in DT Midstream were worth $30,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in DT Midstream during the fourth quarter valued at approximately $119,520,000. Bank of Montreal Can raised its stake in shares of DT Midstream by 733.3% during the 4th quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock worth $45,617,000 after purchasing an additional 403,730 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock valued at $243,948,000 after buying an additional 386,670 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of DT Midstream by 3.5% in the fourth 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. Finally, Invesco Ltd. increased its holdings in DT Midstream by 24.7% during the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock worth $147,942,000 after buying an additional 294,583 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

DTM has been the subject of a number of analyst reports. Wells Fargo & Company decreased 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. JPMorgan Chase & Co. lifted their price target on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Raymond James upped their price objective on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. US Capital Advisors upgraded DT Midstream from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Finally, Barclays dropped 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, April 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $104.67.

DT Midstream Stock Performance

NYSE DTM opened at $96.84 on Friday. The firm has a 50-day moving average price of $95.35 and a two-hundred day moving average price of $97.50. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50. The company has a market capitalization of $9.84 billion, a P/E ratio of 23.56 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 17th were given a dividend of $0.82 per share. The ex-dividend date was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.39%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 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.