Independent Advisor Alliance Boosts Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Independent Advisor Alliance grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 9.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,596 shares of the company’s stock after acquiring an additional 405 shares during the quarter. Independent Advisor Alliance’s holdings in DT Midstream were worth $457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of DTM. Atria Investments Inc purchased a new position in DT Midstream during the 3rd quarter worth $666,000. Victory Capital Management Inc. boosted its holdings in DT Midstream by 151.8% during the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock worth $8,918,000 after acquiring an additional 68,350 shares during the last quarter. Metis Global Partners LLC boosted its holdings in DT Midstream by 33.5% during the 3rd quarter. Metis Global Partners LLC now owns 5,395 shares of the company’s stock worth $424,000 after acquiring an additional 1,354 shares during the last quarter. Natixis Advisors LLC boosted its holdings in shares of DT Midstream by 10.6% in the 3rd quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock worth $1,933,000 after buying an additional 2,356 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of DT Midstream by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after buying an additional 668 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have purchased a total of 1,170 shares of company stock worth $103,357 over the last ninety days. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DTM. The Goldman Sachs Group boosted their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. UBS Group began coverage on shares of DT Midstream in a report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price target on the stock. Wells Fargo & Company cut their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Raymond James boosted their price target on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $102.00.

DT Midstream Trading Up 1.0 %

Shares of DTM opened at $96.72 on Tuesday. The business’s 50-day moving average price is $100.66 and its 200-day moving average price is $94.65. DT Midstream, Inc. has a twelve month low of $57.45 and a twelve month high of $114.50. The stock has a market cap of $9.80 billion, a PE ratio of 23.53 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The business 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 is currently 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.