New Age Alpha Advisors LLC Takes $2.32 Million Position in DT Midstream, Inc. (NYSE:DTM)

New Age Alpha Advisors LLC purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 23,312 shares of the company’s stock, valued at approximately $2,318,000.

A number of other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System lifted its holdings in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after buying an additional 100 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after purchasing an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock worth $69,000 after purchasing an additional 105 shares during the period. Allspring Global Investments Holdings LLC increased its stake in DT Midstream by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after purchasing an additional 116 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. raised its holdings in shares of DT Midstream by 4.2% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock worth $285,000 after purchasing an additional 116 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 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, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares in the company, valued at approximately $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 through the SEC website. In the last 90 days, insiders have bought 1,170 shares of company stock valued at $103,357. Corporate insiders own 0.21% of the company’s stock.

DT Midstream Trading Down 0.1 %

DT Midstream stock opened at $96.89 on Friday. DT Midstream, Inc. has a 12-month low of $60.54 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 stock has a market capitalization of $9.84 billion, a PE ratio of 23.57 and a beta of 0.80. The firm has a 50 day simple moving average of $99.03 and a 200-day simple moving average of $95.90.

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 given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.39%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Wall Street Analyst Weigh In

Several research firms have recently commented on DTM. Wells Fargo & Company decreased their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Stifel Nicolaus dropped their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. The Goldman Sachs Group raised 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. JPMorgan Chase & Co. upped their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Barclays reduced their price target on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a report on Friday, March 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.