ELCO Management Co. LLC Purchases New Position in DT Midstream, Inc. (NYSE:DTM)

ELCO Management Co. LLC acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,225 shares of the company’s stock, valued at approximately $221,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream during the 3rd quarter worth approximately $29,000. AdvisorNet Financial Inc boosted 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 valued at $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC boosted its stake in shares of 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 period. UMB Bank n.a. grew 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 valued at $48,000 after purchasing an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in DT Midstream during the 4th quarter worth $50,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 0.2 %

NYSE DTM opened at $88.49 on Wednesday. The firm has a market capitalization of $8.99 billion, a PE ratio of 21.53 and a beta of 0.77. DT Midstream, Inc. has a one year low of $61.01 and a one year high of $114.50. The company has a 50-day simple moving average of $96.70 and a 200-day simple moving average of $96.79. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.71%. DT Midstream’s dividend payout ratio is 91.11%.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have purchased 1,170 shares of company stock valued at $103,357. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Bank of America initiated coverage on DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 target price for the company. UBS Group lifted their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Stifel Nicolaus reduced their target price on 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 target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Finally, Barclays reduced their price objective on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $105.08.

DT Midstream Company Profile

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.