TIAA Trust National Association Sells 582 Shares of DT Midstream, Inc. (NYSE:DTM)

TIAA Trust National Association reduced its position in DT Midstream, Inc. (NYSE:DTM) by 15.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,262 shares of the company’s stock after selling 582 shares during the period. TIAA Trust National Association’s holdings in DT Midstream were worth $324,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream during the third quarter valued at approximately $29,000. AdvisorNet Financial Inc grew its holdings in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC increased its position 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 in the last quarter. Brooklyn Investment Group purchased a new stake in shares of DT Midstream during the 3rd quarter valued at $40,000. Finally, UMB Bank n.a. boosted its position in shares of DT Midstream by 53.2% in the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Wells Fargo & Company cut their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Morgan Stanley lifted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday. Williams Trading set a $110.00 target price on shares of DT Midstream in a research report on Monday. Finally, The Goldman Sachs Group raised their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus price target of $105.08.

DT Midstream Price Performance

Shares of DTM opened at $96.89 on Friday. The business’s 50-day moving average is $99.03 and its two-hundred day moving average is $95.75. The company has a market capitalization of $9.84 billion, a P/E ratio of 23.57 and a beta of 0.80. DT Midstream, Inc. has a fifty-two week low of $60.54 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.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.39%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 1,170 shares of company stock worth $103,357. 0.21% of the stock is owned by corporate insiders.

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.