Reaves W H & Co. Inc. Raises Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Reaves W H & Co. Inc. raised its stake in DT Midstream, Inc. (NYSE:DTM) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 981,879 shares of the company’s stock after acquiring an additional 74,329 shares during the period. DT Midstream makes up 2.6% of Reaves W H & Co. Inc.’s portfolio, making the stock its 16th biggest position. Reaves W H & Co. Inc. owned approximately 1.01% of DT Midstream worth $97,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of DT Midstream by 4.3% in the third quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock worth $162,567,000 after acquiring an additional 85,462 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after acquiring an additional 267,269 shares during the last quarter. Brookfield Corp ON grew its stake in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock worth $81,689,000 after acquiring an additional 655,695 shares during the last quarter. Finally, FMR LLC grew its stake in shares of DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock worth $63,396,000 after acquiring an additional 754,839 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Down 1.6 %

DTM 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 business’s 50-day moving average is $102.49 and its two-hundred day moving average is $93.53. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 23.00 and a beta of 0.79.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be issued a $0.82 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.47%. DT Midstream’s dividend payout ratio is currently 91.11%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DTM shares. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and increased their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Wells Fargo & Company lowered their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday. Stifel Nicolaus lowered their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group upped their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price 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.