DT Midstream, Inc. (NYSE:DTM) Shares Sold by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. lowered its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 786,387 shares of the company’s stock after selling 73,114 shares during the period. T. Rowe Price Investment Management Inc. owned 0.81% of DT Midstream worth $78,191,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Louisiana State Employees Retirement System raised its stake in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock valued at $2,685,000 after acquiring an additional 100 shares during the last quarter. Jones Financial Companies Lllp grew its position in DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after buying an additional 100 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after buying an additional 105 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of DT Midstream by 1.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock worth $1,235,000 after acquiring an additional 116 shares during the period. Finally, Lakeshore Financial Planning Inc. boosted its holdings in shares of DT Midstream by 4.2% in the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock valued at $285,000 after acquiring an additional 116 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

DT Midstream Price Performance

DTM stock opened at $98.80 on Friday. The stock’s 50 day moving average price is $94.97 and its 200 day moving average price is $97.97. The firm has a market cap of $10.04 billion, a P/E ratio of 24.04 and a beta of 0.77. 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, Inc. has a 1 year low of $61.01 and a 1 year high of $114.50.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th were given a $0.82 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend was Monday, March 17th. DT Midstream’s dividend payout ratio is currently 91.11%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DTM. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Williams Trading set a $110.00 price objective on DT Midstream in a report on Monday, March 24th. Bank of America began coverage on DT Midstream in a report on Monday, March 24th. They issued a “buy” rating and a $110.00 target price for the company. US Capital Advisors upgraded shares of DT Midstream from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. Finally, Morgan Stanley upped their target price on shares of DT Midstream from $92.00 to $105.00 and gave the stock an “underweight” rating in a research report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, DT Midstream has a consensus rating of “Hold” and an average price target of $104.67.

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.