Parallel Advisors LLC Has $595,000 Stock Position in DT Midstream, Inc. (NYSE:DTM)

Parallel Advisors LLC boosted its position in shares of DT Midstream, Inc. (NYSE:DTM) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,985 shares of the company’s stock after purchasing an additional 335 shares during the period. Parallel Advisors LLC’s holdings in DT Midstream were worth $595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in DTM. Wilmington Savings Fund Society FSB acquired a new stake in shares of DT Midstream in the third quarter worth about $29,000. AdvisorNet Financial Inc lifted its position 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 buying an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted its position 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 worth $34,000 after buying an additional 163 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of DT Midstream in the third quarter worth about $40,000. Finally, UMB Bank n.a. lifted its position in shares of DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, the director now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 1,170 shares of company stock worth $103,357 over the last three months. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

DTM has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. The Goldman Sachs Group lifted their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. 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 research note on Friday, February 28th. UBS Group began coverage on DT Midstream in a research note on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price objective on the stock. Finally, Raymond James lifted their price objective 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $102.00.

DT Midstream Trading Up 0.5 %

Shares of DTM opened at $99.24 on Friday. DT Midstream, Inc. has a 12-month low of $58.25 and a 12-month high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $10.08 billion, a price-to-earnings ratio of 24.15 and a beta of 0.80. The stock’s 50-day moving average price is $100.24 and its 200 day moving average price is $94.84.

DT Midstream Increases Dividend

The company 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 dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.31%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream’s payout ratio is currently 91.11%.

DT Midstream 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.