DT Midstream, Inc. (NYSE:DTM) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its position in DT Midstream, Inc. (NYSE:DTM) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,972 shares of the company’s stock after acquiring an additional 477 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DT Midstream were worth $594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream during the third quarter worth about $29,000. AdvisorNet Financial Inc raised its position 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 buying an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted 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 valued at $34,000 after acquiring an additional 163 shares during the period. Brooklyn Investment Group purchased a new stake in shares of DT Midstream in the 3rd quarter valued at $40,000. Finally, UMB Bank n.a. increased its stake in shares of DT Midstream by 53.2% in the fourth 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. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now 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 available through the SEC website. Insiders bought 1,170 shares of company stock valued at $103,357 over the last quarter. 0.04% of the stock is currently owned by insiders.

DT Midstream Stock Up 4.3 %

Shares of NYSE DTM opened at $101.11 on Tuesday. DT Midstream, Inc. has a 52-week low of $59.00 and a 52-week high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company’s 50-day simple moving average is $100.02 and its 200-day simple moving average is $95.39. The firm has a market cap of $10.27 billion, a price-to-earnings ratio of 24.60 and a beta of 0.80.

DT Midstream Increases Dividend

The company 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 dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.24%. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is 91.11%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Barclays reduced their price target on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday. Wells Fargo & Company dropped their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Bank of America assumed coverage on shares of DT Midstream in a research note on Monday. They issued a “buy” rating and a $110.00 target price for the company. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $102.27.

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.