Larson Financial Group LLC Grows Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Larson Financial Group LLC raised its stake in DT Midstream, Inc. (NYSE:DTM) by 21.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 683 shares of the company’s stock after buying an additional 119 shares during the quarter. Larson Financial Group LLC’s holdings in DT Midstream were worth $68,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in DTM. AdvisorNet Financial Inc grew its holdings in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC boosted its position in DT Midstream by 93.7% during the fourth 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. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream during the third quarter worth $29,000. UMB Bank n.a. grew its holdings in DT Midstream by 53.2% in the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after purchasing an additional 167 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of DT Midstream in the fourth quarter valued at $50,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have acquired 1,170 shares of company stock worth $103,357. 0.04% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on DTM. Wells Fargo & Company decreased their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. The Goldman Sachs Group lifted their target price on shares of DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Barclays began coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Finally, Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $102.00.

DT Midstream Trading Up 4.1 %

Shares of DTM opened at $93.59 on Thursday. DT Midstream, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $114.50. The company has a market capitalization of $9.49 billion, a PE ratio of 22.77 and a beta of 0.80. The stock has a fifty day moving average of $101.10 and a two-hundred day moving average of $94.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

DT Midstream Increases Dividend

The firm also recently announced 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. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.50%. 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.