Lindbrook Capital LLC Sells 2,907 Shares of DT Midstream, Inc. (NYSE:DTM)

Lindbrook Capital LLC trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM) by 21.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,649 shares of the company’s stock after selling 2,907 shares during the period. Lindbrook Capital LLC’s holdings in DT Midstream were worth $1,059,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of DT Midstream by 225.4% during the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after purchasing an additional 100,825 shares during the period. Friedenthal Financial bought a new stake in shares of DT Midstream during the 4th quarter valued at $764,000. Atria Investments Inc bought a new stake in shares of DT Midstream during the 3rd quarter valued at $666,000. Bridgewater Associates LP raised its position in shares of DT Midstream by 57.6% during the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after purchasing an additional 67,725 shares during the period. Finally, State Street Corp raised its position in shares of DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after purchasing an additional 202,447 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

DT Midstream stock opened at $93.65 on Thursday. The company’s 50-day moving average price is $102.13 and its 200-day moving average price is $93.66. DT Midstream, Inc. has a twelve month low of $57.16 and a twelve month high of $114.50. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a market cap of $9.49 billion, a PE ratio of 22.79 and a beta of 0.79.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.50%. DT Midstream’s payout ratio is 91.11%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Stifel Nicolaus reduced their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company reduced their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Barclays began coverage on shares of DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $102.00.

DT Midstream Company 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.