Pictet Asset Management Holding SA Acquires 197,449 Shares of DT Midstream, Inc. (NYSE:DTM)

Pictet Asset Management Holding SA increased its holdings in DT Midstream, Inc. (NYSE:DTM) by 1,576.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,977 shares of the company’s stock after purchasing an additional 197,449 shares during the period. Pictet Asset Management Holding SA owned approximately 0.22% of DT Midstream worth $20,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DTM. AdvisorNet Financial Inc lifted its position in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC raised its stake in 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 acquiring an additional 163 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of DT Midstream during the third quarter valued at $29,000. UMB Bank n.a. boosted its stake 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 valued at $48,000 after purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in shares of DT Midstream in the 4th quarter worth about $50,000. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on DTM. Barclays reduced their price target on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday, March 21st. The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley increased their target price on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. Finally, UBS Group lifted their price target on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $105.08.

DT Midstream Stock Down 0.3 %

Shares of NYSE DTM opened at $96.51 on Tuesday. DT Midstream, Inc. has a 1 year low of $60.54 and a 1 year high of $114.50. The firm’s 50-day moving average is $98.71 and its 200-day moving average is $96.20. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.80 billion, a PE ratio of 23.48 and a beta of 0.80.

DT Midstream Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.40%. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s stock in a transaction on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders acquired 1,170 shares of company stock valued at $103,357. Company insiders own 0.04% of the company’s stock.

DT Midstream 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.