Sequoia Financial Advisors LLC lifted its position in DT Midstream, Inc. (NYSE:DTM – Free Report) 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
Get Our Latest Stock Report on DTM
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.
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