Federated Hermes Inc. Lowers Position in DT Midstream, Inc. (NYSE:DTM)

Federated Hermes Inc. decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,172 shares of the company’s stock after selling 870 shares during the period. Federated Hermes Inc.’s holdings in DT Midstream were worth $1,509,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in DT Midstream during the third quarter valued at approximately $29,000. AdvisorNet Financial Inc increased its holdings in shares of DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after acquiring an additional 160 shares during the period. Sound Income Strategies LLC raised its position in shares of DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after acquiring an additional 163 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of DT Midstream by 53.2% during the 4th quarter. UMB Bank n.a. now owns 481 shares of the company’s stock worth $48,000 after purchasing an additional 167 shares during the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new stake in DT Midstream during the fourth quarter valued at about $50,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $94.28 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a twelve month low of $61.01 and a twelve month high of $114.50. The company’s 50 day moving average is $95.75 and its 200 day moving average is $97.28. The company has a market cap of $9.58 billion, a PE ratio of 22.94 and a beta of 0.77.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, 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 SEC, which is accessible through the SEC website. Insiders acquired 1,170 shares of company stock worth $103,357 over the last three months. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on DTM. The Goldman Sachs Group increased their price target 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. Barclays lowered their target price on shares of DT Midstream from $107.00 to $102.00 and set an “equal weight” rating for the company in a research note on Friday. UBS Group upped their price target on DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, March 27th. Williams Trading set a $110.00 price objective on DT Midstream in a research report on Monday, March 24th. Finally, Wells Fargo & Company decreased their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.67.

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.