Amalgamated Bank Raises Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Amalgamated Bank raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 46,496 shares of the company’s stock after acquiring an additional 193 shares during the period. Amalgamated Bank’s holdings in DT Midstream were worth $4,623,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. FMR LLC increased its position in shares of DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares in the last quarter. Brookfield Corp ON grew its holdings in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the last quarter. State Street Corp lifted its stake in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in DT Midstream in the third quarter valued at about $8,320,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on DTM. Stifel Nicolaus cut their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. upped their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Raymond James upped their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $101.11.

DT Midstream Stock Performance

DTM opened at $92.92 on Friday. The stock’s 50 day simple moving average is $102.73 and its 200 day simple moving average is $92.95. The stock has a market cap of $9.03 billion, a P/E ratio of 22.61 and a beta of 0.79. DT Midstream, Inc. has a 1-year low of $56.60 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is 71.53%.

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.