Sigma Investment Counselors Inc. Acquires 456 Shares of DT Midstream, Inc. (NYSE:DTM)

Sigma Investment Counselors Inc. increased its holdings in DT Midstream, Inc. (NYSE:DTM) by 13.7% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,792 shares of the company’s stock after buying an additional 456 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in DT Midstream were worth $298,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Blue Trust Inc. increased its holdings in DT Midstream by 16.0% in the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after buying an additional 142 shares in the last quarter. TFG Advisers LLC increased its holdings in DT Midstream by 3.1% in the 3rd quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock worth $454,000 after buying an additional 172 shares in the last quarter. Raymond James & Associates increased its holdings in DT Midstream by 1.1% in the 2nd quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock worth $1,289,000 after buying an additional 201 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of DT Midstream by 39.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock valued at $56,000 after purchasing an additional 224 shares during the period. Finally, First Citizens Bank & Trust Co. grew its stake in shares of DT Midstream by 6.9% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the company’s stock valued at $278,000 after purchasing an additional 228 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Down 0.6 %

DTM stock opened at $87.39 on Friday. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $88.21. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The stock has a market cap of $8.49 billion, a P/E ratio of 21.31 and a beta of 0.74. The business’s 50-day moving average price is $80.02 and its 200-day moving average price is $72.46.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The company had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. During the same period in the previous year, the firm earned $0.93 EPS. On average, equities research analysts forecast that DT Midstream, Inc. will post 3.99 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 16th were issued a $0.735 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.94 dividend on an annualized basis and a yield of 3.36%. DT Midstream’s dividend payout ratio is presently 71.71%.

Wall Street Analyst Weigh In

DTM has been the subject of a number of recent research reports. Barclays boosted their price target on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Morgan Stanley boosted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday. Citigroup boosted their price target on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Stifel Nicolaus boosted their price target on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company boosted their price target on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $77.38.

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.