Boothbay Fund Management LLC Invests $2.44 Million in DT Midstream, Inc. (NYSE:DTM)

Boothbay Fund Management LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,520 shares of the company’s stock, valued at approximately $2,438,000.

Several other institutional investors and hedge funds have also made changes to their positions in DTM. Norges Bank bought a new stake in shares of DT Midstream during the fourth quarter worth $119,520,000. Bank of Montreal Can lifted its stake in DT Midstream by 733.3% in the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock worth $45,617,000 after acquiring an additional 403,730 shares during the period. Geode Capital Management LLC lifted its stake in DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock worth $243,948,000 after acquiring an additional 386,670 shares during the period. Vanguard Group Inc. lifted its stake in DT Midstream by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company’s stock worth $1,049,363,000 after acquiring an additional 359,017 shares during the period. Finally, Invesco Ltd. lifted its stake in DT Midstream by 24.7% in the fourth quarter. Invesco Ltd. now owns 1,487,901 shares of the company’s stock worth $147,942,000 after acquiring an additional 294,583 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DTM has been the subject of a number of research reports. Raymond James upped their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Stifel Nicolaus lowered their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company lowered their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. UBS Group upped their price objective on shares of DT Midstream from $102.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, March 27th. Finally, Williams Trading set a $110.00 price target on shares of DT Midstream in a research report on Monday, March 24th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $104.67.

Insider Buying and Selling 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 acquired at an average price 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 in the company, valued at approximately $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.34% of the stock is owned by insiders.

DT Midstream Price Performance

Shares of DTM opened at $98.80 on Monday. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 24.04 and a beta of 0.77. DT Midstream, Inc. has a twelve month low of $61.01 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 50 day moving average of $94.97 and a two-hundred day moving average of $98.16.

DT Midstream Increases Dividend

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

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.