Federated Hermes Inc. Lowers Stake in DT Midstream, Inc. (NYSE:DTM)

Federated Hermes Inc. lessened its holdings in DT Midstream, Inc. (NYSE:DTM) by 5.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 15,172 shares of the company’s stock after selling 870 shares during the quarter. Federated Hermes Inc.’s holdings in DT Midstream were worth $1,509,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream in the third quarter valued at approximately $29,000. AdvisorNet Financial Inc increased its holdings in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its holdings in DT Midstream by 93.7% in 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 in the last quarter. UMB Bank n.a. raised its position in DT Midstream by 53.2% during 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. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in DT Midstream during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a report on Tuesday, March 25th. UBS Group lifted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Williams Trading set a $110.00 price target on DT Midstream in a research report on Monday, March 24th. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Barclays reduced their target price on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating for the company in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $104.67.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have acquired 1,170 shares of company stock worth $103,357. Insiders own 0.04% of the company’s stock.

DT Midstream Price Performance

DT Midstream stock opened at $94.28 on Tuesday. 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 $9.58 billion, a P/E ratio of 22.94 and a beta of 0.77. The company has a 50-day moving average price of $95.75 and a 200 day moving average price of $97.28. DT Midstream, Inc. has a 12-month low of $61.01 and a 12-month high of $114.50.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio 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.