JPMorgan Chase & Co. Cuts Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

JPMorgan Chase & Co. reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 19.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,050,656 shares of the company’s stock after selling 249,192 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.08% of DT Midstream worth $104,467,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of DT Midstream in the fourth quarter valued at about $238,000. Modern Wealth Management LLC increased its stake in DT Midstream by 7.9% in the 4th quarter. Modern Wealth Management LLC now owns 6,414 shares of the company’s stock valued at $652,000 after buying an additional 471 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of DT Midstream by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after buying an additional 359,017 shares in the last quarter. LPL Financial LLC boosted its stake in shares of DT Midstream by 23.9% in the 4th quarter. LPL Financial LLC now owns 81,602 shares of the company’s stock worth $8,114,000 after buying an additional 15,733 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of DT Midstream in the fourth quarter valued at approximately $2,011,000. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on DTM shares. UBS Group lifted their price target on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. Barclays cut their price target on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, March 21st. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Morgan Stanley lifted their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company reduced their target price on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus price target of $105.08.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $99.57 on Thursday. The company has a 50 day moving average of $98.16 and a 200 day moving average of $96.37. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $10.12 billion, a P/E ratio of 24.23 and a beta of 0.80. DT Midstream, Inc. has a 12 month low of $61.01 and a 12 month high of $114.50.

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 issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.29%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is presently 91.11%.

Insider Buying and Selling

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have acquired 1,170 shares of company stock worth $103,357. Corporate insiders own 0.04% of the company’s stock.

About DT Midstream

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.