Envestnet Asset Management Inc. Buys 4,628 Shares of DT Midstream, Inc. (NYSE:DTM)

Envestnet Asset Management Inc. boosted its stake in DT Midstream, Inc. (NYSE:DTM) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 215,826 shares of the company’s stock after purchasing an additional 4,628 shares during the quarter. Envestnet Asset Management Inc.’s holdings in DT Midstream were worth $21,460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in DTM. Vanguard Group Inc. lifted its holdings in shares of DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after buying an additional 359,017 shares in the last quarter. Geode Capital Management LLC lifted its stake in DT Midstream by 18.7% in the 4th quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock worth $243,948,000 after purchasing an additional 386,670 shares in the last quarter. Norges Bank bought a new position in DT Midstream in the 4th quarter valued at $119,520,000. Reaves W H & Co. Inc. grew its position in shares of DT Midstream by 8.2% during the 4th quarter. Reaves W H & Co. Inc. now owns 981,879 shares of the company’s stock valued at $97,628,000 after purchasing an additional 74,329 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in DT Midstream by 129.3% during the fourth quarter. California Public Employees Retirement System now owns 411,609 shares of the company’s stock valued at $40,926,000 after buying an additional 232,116 shares during the period. Institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DTM. Bank of America started coverage on DT Midstream in a research note on Monday, March 24th. They issued a “buy” rating and a $110.00 target price on the stock. Barclays lowered their target price on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Friday. Stifel Nicolaus cut their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Finally, UBS Group increased their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $104.67.

DT Midstream Stock Up 1.6 %

DTM opened at $94.28 on Tuesday. 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 business’s 50-day moving average price is $95.75 and its 200-day moving average price is $97.28. The company has a market cap of $9.58 billion, a P/E ratio of 22.94 and a beta of 0.77.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s payout ratio is 91.11%.

Insider Buying and Selling at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders purchased 1,170 shares of company stock worth $103,357. 0.04% of the stock is currently owned by insiders.

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.