Envestnet Portfolio Solutions Inc. Increases Position in DT Midstream, Inc. (NYSE:DTM)

Envestnet Portfolio Solutions Inc. raised its holdings in DT Midstream, Inc. (NYSE:DTM) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,972 shares of the company’s stock after acquiring an additional 477 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DT Midstream were worth $594,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of DTM. Wilmington Savings Fund Society FSB purchased a new stake in shares of DT Midstream in the third quarter valued at approximately $29,000. AdvisorNet Financial Inc boosted its stake in DT Midstream by 106.7% during 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 grew its holdings in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after buying an additional 163 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of DT Midstream in the 3rd quarter worth $40,000. Finally, UMB Bank n.a. raised its holdings in shares of DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after acquiring an additional 167 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on DTM shares. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Raymond James increased their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. UBS Group initiated coverage on shares of DT Midstream in a research report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price target on the stock. Bank of America assumed coverage on DT Midstream in a research note on Monday. They set a “buy” rating and a $110.00 target price for the company. Finally, Barclays decreased their price target on DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $102.27.

DT Midstream Price Performance

DTM stock opened at $101.11 on Tuesday. The business’s fifty day moving average price is $100.02 and its 200 day moving average price is $95.39. DT Midstream, Inc. has a 12-month low of $59.00 and a 12-month high of $114.50. The company has a market capitalization of $10.27 billion, a PE ratio of 24.60 and a beta of 0.80. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The firm 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. This represents a $3.28 annualized dividend and a dividend yield of 3.24%. 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. DT Midstream’s dividend payout ratio is currently 91.11%.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the business’s 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 purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders acquired 1,170 shares of company stock valued at $103,357. 0.04% of the stock is currently owned by company insiders.

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.