DT Midstream, Inc. (NYSE:DTM) Shares Sold by Krane Funds Advisors LLC

Krane Funds Advisors LLC decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,448 shares of the company’s stock after selling 1,773 shares during the period. Krane Funds Advisors LLC’s holdings in DT Midstream were worth $442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc raised its stake in shares of 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 purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC boosted 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 purchasing an additional 163 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream during the 3rd quarter worth approximately $29,000. UMB Bank n.a. increased its position in 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 during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of DT Midstream in the 4th quarter valued at approximately $50,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

DTM has been the topic of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Morgan Stanley boosted their price target on DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research note on Tuesday, March 25th. Stifel Nicolaus dropped their price objective 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. Finally, Raymond James increased their price objective 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. Two analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, DT Midstream presently has an average rating of “Hold” and an average price target of $105.08.

Insiders Place Their Bets

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have purchased a total of 1,170 shares of company stock valued at $103,357 over the last quarter. Company insiders own 0.04% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $87.03 on Monday. The business has a fifty day simple moving average of $97.33 and a 200-day simple moving average of $96.69. DT Midstream, Inc. has a 52 week low of $61.01 and a 52 week high of $114.50. The company has a market cap of $8.84 billion, a P/E ratio of 21.18 and a beta of 0.77. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.77%. DT Midstream’s dividend payout ratio is 91.11%.

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.