Invesco Ltd. Increases Stock Position in DT Midstream, Inc. (NYSE:DTM)

Invesco Ltd. grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 24.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,487,901 shares of the company’s stock after purchasing an additional 294,583 shares during the quarter. Invesco Ltd. owned approximately 1.53% of DT Midstream worth $147,942,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in DT Midstream during the 4th quarter worth approximately $119,520,000. Bank of Montreal Can boosted its holdings in shares of DT Midstream by 733.3% in the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock valued at $45,617,000 after acquiring an additional 403,730 shares during the period. Geode Capital Management LLC grew its position in shares of DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock worth $243,948,000 after acquiring an additional 386,670 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of DT Midstream by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock valued at $1,049,363,000 after acquiring an additional 359,017 shares during the period. Finally, California Public Employees Retirement System raised its position in DT Midstream by 129.3% in the 4th quarter. California Public Employees Retirement System now owns 411,609 shares of the company’s stock valued at $40,926,000 after purchasing an additional 232,116 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Up 2.8 %

Shares of DT Midstream stock opened at $92.58 on Friday. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50. 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 stock has a market cap of $9.41 billion, a PE ratio of 22.53 and a beta of 0.77. The company has a 50-day moving average of $95.93 and a two-hundred day moving average of $97.03.

DT Midstream Increases Dividend

The company also recently disclosed 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. 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 3.54%. DT Midstream’s payout ratio is currently 91.11%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTM. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Raymond James raised their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. UBS Group upped their price objective on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. US Capital Advisors upgraded DT Midstream from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Finally, The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, DT Midstream has an average rating of “Hold” and an average price target of $104.67.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Over the last ninety days, insiders have bought 1,170 shares of company stock worth $103,357. 0.04% of the stock is owned by corporate insiders.

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.