Axxcess Wealth Management LLC Makes New $764,000 Investment in DT Midstream, Inc. (NYSE:DTM)

Axxcess Wealth Management LLC bought a new position in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 7,687 shares of the company’s stock, valued at approximately $764,000.

Several other institutional investors have also modified their holdings of DTM. 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% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC grew its stake in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after buying an additional 163 shares during the period. Brooklyn Investment Group acquired a new stake in shares of DT Midstream during the 3rd quarter worth approximately $40,000. Finally, UMB Bank n.a. raised its position in shares of DT Midstream by 53.2% during 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 period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 0.5 %

Shares of DTM stock opened at $99.24 on Friday. The stock has a market capitalization of $10.08 billion, a P/E ratio of 24.15 and a beta of 0.80. DT Midstream, Inc. has a fifty-two week low of $58.25 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 50 day moving average price of $100.24 and a 200 day moving average price of $94.84.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid 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 dividend yield of 3.31%. DT Midstream’s payout ratio is 91.11%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Stifel Nicolaus lowered their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. 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 report on Tuesday, January 28th. The Goldman Sachs Group upped their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $102.00.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last 90 days, insiders have purchased 1,170 shares of company stock valued at $103,357. 0.04% of the stock is currently owned by company 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.