Smartleaf Asset Management LLC Purchases 1,364 Shares of DT Midstream, Inc. (NYSE:DTM)

Smartleaf Asset Management LLC boosted its position in shares of DT Midstream, Inc. (NYSE:DTM) by 327.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,780 shares of the company’s stock after purchasing an additional 1,364 shares during the period. Smartleaf Asset Management LLC’s holdings in DT Midstream were worth $178,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in DT Midstream by 0.4% in the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after acquiring an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew 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 worth $69,000 after acquiring an additional 105 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in 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 in the last quarter. Wilmington Savings Fund Society FSB grew its stake in DT Midstream by 38.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company’s stock worth $51,000 after acquiring an additional 141 shares in the last quarter. Finally, Caprock Group LLC grew its stake in DT Midstream by 3.7% in the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after acquiring an additional 143 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Trading Down 4.2 %

NYSE:DTM opened at $89.67 on Friday. DT Midstream, Inc. has a 52 week low of $57.16 and a 52 week high of $114.50. The firm has a 50 day moving average of $101.91 and a 200 day moving average of $93.63. 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 stock has a market capitalization of $9.09 billion, a price-to-earnings ratio of 21.82 and a beta of 0.80.

DT Midstream Increases Dividend

The company 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. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.66%. DT Midstream’s dividend payout ratio is presently 91.11%.

Wall Street Analyst Weigh In

A number of brokerages have commented on DTM. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their target price for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. The Goldman Sachs Group upped their price target 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. Stifel Nicolaus lowered their price target on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Wells Fargo & Company lowered their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $102.00.

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.