Swiss National Bank Has $18.99 Million Stake in DT Midstream, Inc. (NYSE:DTM)

Swiss National Bank lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 191,000 shares of the company’s stock after buying an additional 1,400 shares during the quarter. Swiss National Bank’s holdings in DT Midstream were worth $18,991,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new position in DT Midstream during the third quarter valued at approximately $29,000. AdvisorNet Financial Inc grew its holdings in DT Midstream by 106.7% during 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 holdings in DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares during the period. Brooklyn Investment Group acquired a new position in DT Midstream during the third quarter valued at approximately $40,000. Finally, UMB Bank n.a. grew its holdings in DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after purchasing an additional 167 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $95.98 on Wednesday. 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’s fifty day simple moving average is $100.51 and its 200-day simple moving average is $94.78. DT Midstream, Inc. has a 12 month low of $57.50 and a 12 month high of $114.50. The firm has a market cap of $9.73 billion, a PE ratio of 23.35 and a beta of 0.80.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a dividend of $0.82 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is 91.11%.

Insiders Place Their Bets

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have bought 1,170 shares of company stock valued at $103,357. 0.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DTM. Wells Fargo & Company decreased their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Barclays initiated 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 for the company. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped 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. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.