HighTower Advisors LLC Acquires 1,632 Shares of DT Midstream, Inc. (NYSE:DTM)

HighTower Advisors LLC boosted its position in shares of DT Midstream, Inc. (NYSE:DTM) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,244 shares of the company’s stock after acquiring an additional 1,632 shares during the period. HighTower Advisors LLC’s holdings in DT Midstream were worth $3,703,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new stake in DT Midstream during the 3rd quarter worth approximately $29,000. AdvisorNet Financial Inc raised its stake in 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 acquiring an additional 160 shares during the period. Sound Income Strategies LLC raised its stake in DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after acquiring an additional 163 shares during the period. Brooklyn Investment Group bought a new stake in DT Midstream during the 3rd quarter worth approximately $40,000. Finally, UMB Bank n.a. grew its holdings in 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 in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 0.5 %

Shares of NYSE:DTM opened at $99.24 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12 month low of $58.25 and a 12 month high of $114.50. The company has a 50-day moving average price of $100.24 and a 200 day moving average price of $94.84. The company has a market cap of $10.06 billion, a price-to-earnings ratio of 24.15 and a beta of 0.80.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued 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 dividend on an annualized basis and a dividend yield of 3.31%. DT Midstream’s dividend payout ratio (DPR) is presently 91.11%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Raymond James increased their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group increased their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. UBS Group initiated coverage on shares of DT Midstream in a report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.00.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was acquired 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 directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders acquired 1,170 shares of company stock valued at $103,357. Insiders own 0.04% of the company’s stock.

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.