Thrivent Financial for Lutherans Increases Position in DT Midstream, Inc. (NYSE:DTM)

Thrivent Financial for Lutherans grew its holdings in DT Midstream, Inc. (NYSE:DTM) by 55.9% during the fourth quarter, HoldingsChannel reports. The firm owned 35,570 shares of the company’s stock after acquiring an additional 12,755 shares during the period. Thrivent Financial for Lutherans’ holdings in DT Midstream were worth $3,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Axxcess Wealth Management LLC acquired a new position in DT Midstream in the 4th quarter valued at about $764,000. Parallel Advisors LLC grew its position in DT Midstream by 5.9% in the fourth quarter. Parallel Advisors LLC now owns 5,985 shares of the company’s stock worth $595,000 after acquiring an additional 335 shares during the period. Corient Private Wealth LLC increased its stake in DT Midstream by 8.3% during the fourth quarter. Corient Private Wealth LLC now owns 22,587 shares of the company’s stock worth $2,246,000 after acquiring an additional 1,738 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in shares of DT Midstream by 8.7% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,972 shares of the company’s stock valued at $594,000 after purchasing an additional 477 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of DT Midstream by 3.5% during the 4th quarter. Natixis Advisors LLC now owns 25,432 shares of the company’s stock worth $2,529,000 after purchasing an additional 864 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders have purchased 1,170 shares of company stock worth $103,357. 0.21% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DTM shares. JPMorgan Chase & Co. lifted their price target on shares of 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 lifted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a report on Tuesday. Stifel Nicolaus lowered their price target 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. Raymond James lifted their price objective on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Bank of America assumed coverage on DT Midstream in a research note on Monday. They set a “buy” rating and a $110.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $104.00.

DT Midstream Price Performance

Shares of DTM opened at $98.29 on Thursday. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of 23.91 and a beta of 0.80. DT Midstream, Inc. has a fifty-two week low of $59.03 and a fifty-two week high of $114.50. The firm has a 50-day simple moving average of $99.65 and a 200-day simple moving average of $95.59. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream Increases Dividend

The business also recently disclosed 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. This represents a $3.28 dividend on an annualized basis and a yield of 3.34%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s dividend payout ratio (DPR) is presently 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.