22,626 Shares in DT Midstream, Inc. (NYSE:DTM) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 22,626 shares of the company’s stock, valued at approximately $2,250,000.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream in the 3rd quarter worth about $29,000. AdvisorNet Financial Inc raised its stake in shares of DT Midstream by 106.7% during the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of DT Midstream by 93.7% during the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of DT Midstream during the 3rd quarter worth about $40,000. Finally, UMB Bank n.a. raised its stake 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 purchasing an additional 167 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DTM shares. Barclays started coverage on DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company cut their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Raymond James raised their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Finally, 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 research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $102.00.

DT Midstream Stock Performance

Shares of NYSE DTM opened at $88.16 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $8.94 billion, a price-to-earnings ratio of 21.45 and a beta of 0.80. The business’s 50-day simple moving average is $101.68 and its 200-day simple moving average is $93.97. DT Midstream, Inc. has a 52 week low of $57.16 and a 52 week high of $114.50.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $0.82 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.72%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 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.