KLP Kapitalforvaltning AS Invests $2.01 Million in DT Midstream, Inc. (NYSE:DTM)

KLP Kapitalforvaltning AS purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 20,100 shares of the company’s stock, valued at approximately $2,011,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream in the 3rd quarter valued at about $29,000. AdvisorNet Financial Inc lifted its stake in shares of DT Midstream by 106.7% in the fourth 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 boosted its holdings in DT Midstream by 93.7% in the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the last quarter. Brooklyn Investment Group acquired a new stake in DT Midstream during the 3rd quarter valued at approximately $40,000. Finally, UMB Bank n.a. increased its holdings in DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on DTM. The Goldman Sachs Group increased their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Williams Trading set a $110.00 target price on shares of DT Midstream in a research report on Monday. UBS Group increased their price target on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Raymond James lifted their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $105.08.

DT Midstream Stock Down 1.1 %

NYSE DTM opened at $97.15 on Friday. The company has a market capitalization of $9.87 billion, a P/E ratio of 23.64 and a beta of 0.80. DT Midstream, Inc. has a 12 month low of $59.50 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50 day simple moving average is $99.35 and its 200 day simple moving average is $95.60.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.38%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is currently 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were acquired at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares of the company’s stock, valued at $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 is available at this link. In the last quarter, insiders have purchased 1,170 shares of company stock worth $103,357. Company insiders own 0.21% of the company’s stock.

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.