DT Midstream, Inc. (NYSE:DTM) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its position in DT Midstream, Inc. (NYSE:DTM) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,310 shares of the company’s stock after selling 884 shares during the period. New York Life Investment Management LLC’s holdings in DT Midstream were worth $1,025,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DTM. Raymond James & Associates grew its holdings in DT Midstream by 68.4% during the third quarter. Raymond James & Associates now owns 30,554 shares of the company’s stock worth $2,403,000 after acquiring an additional 12,406 shares during the period. Private Advisor Group LLC grew its holdings in DT Midstream by 27.1% during the third quarter. Private Advisor Group LLC now owns 4,695 shares of the company’s stock worth $369,000 after acquiring an additional 1,000 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in DT Midstream by 8.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,320 shares of the company’s stock worth $733,000 after acquiring an additional 748 shares during the period. Princeton Global Asset Management LLC grew its holdings in DT Midstream by 8.6% during the third quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock worth $199,000 after acquiring an additional 200 shares during the period. Finally, Van ECK Associates Corp grew its holdings in DT Midstream by 18.6% during the third quarter. Van ECK Associates Corp now owns 33,239 shares of the company’s stock worth $2,898,000 after acquiring an additional 5,208 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. The Goldman Sachs Group raised their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Raymond James raised their price objective on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Barclays began coverage on DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price objective on the stock. Stifel Nicolaus dropped their price objective on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, DT Midstream presently has an average rating of “Hold” and an average target price of $102.00.

DT Midstream Stock Performance

NYSE DTM opened at $94.52 on Tuesday. The company has a market cap of $9.58 billion, a PE ratio of 23.00 and a beta of 0.79. The stock’s 50 day simple moving average is $102.49 and its 200-day simple moving average is $93.53. DT Midstream, Inc. has a 1-year low of $57.16 and a 1-year 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.

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. This represents a $3.28 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

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.