Sequoia Financial Advisors LLC Boosts Stock Position in DT Midstream, Inc. (NYSE:DTM)

Sequoia Financial Advisors LLC lifted its position in DT Midstream, Inc. (NYSE:DTM) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,266 shares of the company’s stock after purchasing an additional 184 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in DT Midstream were worth $822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of DT Midstream by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Friedenthal Financial purchased a new stake in DT Midstream during the 4th quarter valued at about $764,000. Truist Financial Corp purchased a new stake in DT Midstream during the 4th quarter valued at about $771,000. Atria Investments Inc purchased a new stake in DT Midstream during the 3rd quarter valued at about $666,000. Finally, Bridgewater Associates LP boosted its holdings in DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after acquiring an additional 67,725 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the transaction, the director now owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders bought 1,170 shares of company stock valued at $103,357. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DTM shares. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Barclays started coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price for the company. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and increased their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Wells Fargo & Company dropped their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, UBS Group initiated coverage on DT Midstream in a research report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $102.00.

DT Midstream Stock Up 2.9 %

Shares of NYSE:DTM opened at $96.02 on Monday. DT Midstream, Inc. has a 52-week low of $57.45 and a 52-week high of $114.50. The firm has a market capitalization of $9.73 billion, a P/E ratio of 23.36 and a beta of 0.80. The stock has a 50 day moving average price of $100.78 and a 200-day moving average price of $94.52. 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.42%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 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.