New York Life Investment Management LLC Trims Holdings in DT Midstream, Inc. (NYSE:DTM)

New York Life Investment Management LLC decreased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 7.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,310 shares of the company’s stock after selling 884 shares during the quarter. New York Life Investment Management LLC’s holdings in DT Midstream were worth $1,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its position in DT Midstream by 106.7% in the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares during the period. Sound Income Strategies LLC grew its stake in 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. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream during the 3rd quarter worth $29,000. UMB Bank n.a. lifted its holdings 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 buying an additional 167 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in DT Midstream during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $115.00 in a report on Thursday, November 21st. The Goldman Sachs Group upped their price objective on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Wells Fargo & Company dropped their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. upped their price target on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average price target of $102.00.

DT Midstream Trading Down 1.6 %

Shares of DT Midstream stock opened at $94.52 on Tuesday. DT Midstream, Inc. has a fifty-two week low of $57.16 and a fifty-two week high of $114.50. The firm has a market cap of $9.58 billion, a PE ratio of 23.00 and a beta of 0.79. The business’s fifty day moving average is $102.49 and its two-hundred day moving average is $93.53. 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 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.