Brasada Capital Management LP Sells 4,016 Shares of DT Midstream, Inc. (NYSE:DTM)

Brasada Capital Management LP decreased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 20.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 15,696 shares of the company’s stock after selling 4,016 shares during the period. Brasada Capital Management LP’s holdings in DT Midstream were worth $1,652,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Louisiana State Employees Retirement System grew its stake in shares of DT Midstream by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp grew its stake in DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after acquiring an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in DT Midstream by 17.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock worth $69,000 after purchasing an additional 105 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of DT Midstream by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after buying an additional 116 shares during the period. Finally, Lakeshore Financial Planning Inc. increased its position in DT Midstream by 4.2% during the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock valued at $285,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $95.44 on Wednesday. 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 company has a fifty day moving average of $95.12 and a two-hundred day moving average of $97.76. The stock has a market capitalization of $9.70 billion, a PE ratio of 23.22 and a beta of 0.77.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.44%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is presently 91.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DTM shares. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Bank of America initiated coverage on DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. UBS Group upped their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Barclays cut their price target on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a report on Friday, April 11th. Finally, Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.67.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This trade represents a 2.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by corporate insiders.

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.