Swiss National Bank Buys 1,400 Shares of DT Midstream, Inc. (NYSE:DTM)

Swiss National Bank raised its stake in DT Midstream, Inc. (NYSE:DTM) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 191,000 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Swiss National Bank owned approximately 0.20% of DT Midstream worth $18,991,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC raised its stake in shares of DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares in the last quarter. Brookfield Corp ON raised its stake in shares of DT Midstream by 171.3% in the 3rd quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after buying an additional 655,695 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of DT Midstream by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after buying an additional 267,269 shares in the last quarter. Bahl & Gaynor Inc. acquired a new position in shares of DT Midstream in the 4th quarter valued at $21,475,000. Finally, State Street Corp raised its stake in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last three months, insiders purchased 1,170 shares of company stock valued at $103,357. Insiders own 0.04% of the company’s stock.

DT Midstream Trading Down 0.8 %

Shares of NYSE DTM opened at $95.98 on Wednesday. DT Midstream, Inc. has a 1-year low of $57.50 and a 1-year high of $114.50. The company has a market cap of $9.73 billion, a PE ratio of 23.35 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. The company has a 50-day moving average of $100.51 and a two-hundred day moving average of $94.78.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.42%. DT Midstream’s payout ratio is currently 91.11%.

Wall Street Analyst Weigh In

DTM has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Raymond James lifted their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. UBS Group started coverage on shares of DT Midstream in a report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price target for the company. Finally, Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $102.00.

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.