National Bank of Canada FI Takes $3 Million Position in DT Midstream, Inc. (NYSE:DTM)

National Bank of Canada FI bought a new position in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 30,160 shares of the company’s stock, valued at approximately $3,002,000.

Several other hedge funds and other institutional investors have also modified their holdings of DTM. Wilmington Savings Fund Society FSB acquired a new stake in DT Midstream in the third quarter valued at approximately $29,000. AdvisorNet Financial Inc increased its position in DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC raised 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 valued at $34,000 after buying an additional 163 shares during the last quarter. UMB Bank n.a. lifted 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 acquiring an additional 167 shares during the period. Finally, Kohmann Bosshard Financial Services LLC bought a new position in DT Midstream in the fourth quarter worth $50,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders purchased 1,170 shares of company stock valued at $103,357. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DTM shares. Bank of America initiated coverage on DT Midstream in a report on Monday, March 24th. They set a “buy” rating and a $110.00 price objective on the stock. UBS Group raised their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Stifel Nicolaus dropped their target price 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. The Goldman Sachs Group boosted their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Finally, Raymond James increased their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and an average target price of $105.08.

DT Midstream Trading Up 1.4 %

NYSE DTM opened at $88.49 on Tuesday. The stock’s 50 day moving average price is $97.16 and its two-hundred day moving average price is $96.78. 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 stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of 21.53 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50.

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 given a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.71%. DT Midstream’s payout ratio is 91.11%.

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.