Bank of New York Mellon Corp Sells 13,885 Shares of DT Midstream, Inc. (NYSE:DTM)

Bank of New York Mellon Corp decreased its position in DT Midstream, Inc. (NYSE:DTM) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,051,508 shares of the company’s stock after selling 13,885 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.08% of DT Midstream worth $104,551,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DTM. Raymond James & Associates lifted its holdings in DT Midstream by 68.4% in the third quarter. Raymond James & Associates now owns 30,554 shares of the company’s stock valued at $2,403,000 after acquiring an additional 12,406 shares during the period. Private Advisor Group LLC lifted its holdings in DT Midstream by 27.1% in the third quarter. Private Advisor Group LLC now owns 4,695 shares of the company’s stock valued at $369,000 after acquiring an additional 1,000 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in DT Midstream by 8.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,320 shares of the company’s stock valued at $733,000 after acquiring an additional 748 shares during the period. Princeton Global Asset Management LLC lifted its holdings in DT Midstream by 8.6% in the third quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock valued at $199,000 after acquiring an additional 200 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in DT Midstream by 18.6% in the third quarter. Van ECK Associates Corp now owns 33,239 shares of the company’s stock valued at $2,898,000 after acquiring an additional 5,208 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $96.03 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12-month low of $57.12 and a 12-month high of $114.50. The stock has a 50-day moving average price of $102.63 and a 200 day moving average price of $93.26. The stock has a market capitalization of $9.33 billion, a P/E ratio of 23.37 and a beta of 0.79.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.42%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is currently 71.53%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Barclays assumed coverage on DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price objective on the stock. Wells Fargo & Company decreased their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus decreased their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $102.00.

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.