Lindbrook Capital LLC Cuts Position in DT Midstream, Inc. (NYSE:DTM)

Lindbrook Capital LLC decreased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 21.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,649 shares of the company’s stock after selling 2,907 shares during the quarter. Lindbrook Capital LLC’s holdings in DT Midstream were worth $1,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of DT Midstream during the fourth quarter valued at approximately $8,569,000. Arizona State Retirement System grew its holdings in shares of DT Midstream by 0.8% during the fourth quarter. Arizona State Retirement System now owns 28,176 shares of the company’s stock valued at $2,802,000 after buying an additional 214 shares during the last quarter. Atria Investments Inc grew its holdings in shares of DT Midstream by 82.0% during the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company’s stock valued at $1,532,000 after buying an additional 6,946 shares during the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of DT Midstream during the fourth quarter valued at approximately $991,000. Finally, Victory Capital Management Inc. grew its holdings in shares of DT Midstream by 0.9% during the fourth quarter. Victory Capital Management Inc. now owns 114,347 shares of the company’s stock valued at $11,370,000 after buying an additional 973 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DTM shares. 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. Barclays assumed coverage on shares of DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 target price on the stock. JPMorgan Chase & Co. raised their target price 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. The Goldman Sachs Group raised their target price 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. Finally, Raymond James raised their target price 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. Two investment 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. According to MarketBeat, DT Midstream has an average rating of “Hold” and a consensus price target of $102.00.

DT Midstream Trading Up 0.4 %

Shares of DT Midstream stock opened at $93.65 on Thursday. The company’s fifty day simple moving average is $102.13 and its 200-day simple moving average is $93.66. The stock has a market capitalization of $9.49 billion, a PE ratio of 22.79 and a beta of 0.79. DT Midstream, Inc. has a 1-year low of $57.16 and a 1-year 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.

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 paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) 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.