Sound Income Strategies LLC Buys 163 Shares of DT Midstream, Inc. (NYSE:DTM)

Sound Income Strategies LLC raised its stake in DT Midstream, Inc. (NYSE:DTM) by 93.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 337 shares of the company’s stock after buying an additional 163 shares during the period. Sound Income Strategies LLC’s holdings in DT Midstream were worth $34,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its stake in shares of DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after acquiring an additional 100,825 shares during the period. Friedenthal Financial bought a new position in DT Midstream during the 4th quarter worth approximately $764,000. Atria Investments Inc acquired a new position in shares of DT Midstream in the 3rd quarter worth approximately $666,000. Bridgewater Associates LP boosted its stake in shares of DT Midstream by 57.6% in the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock valued at $14,576,000 after purchasing an additional 67,725 shares during the last quarter. Finally, State Street Corp increased its position in shares of DT Midstream by 6.4% during the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after buying an additional 202,447 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on DTM shares. Wells Fargo & Company boosted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and raised their price objective for the stock from $89.00 to $106.00 in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $99.88.

DT Midstream Trading Up 0.1 %

NYSE DTM opened at $111.46 on Friday. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $114.50. The business has a 50 day moving average price of $104.05 and a 200-day moving average price of $88.61. 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 market cap of $10.83 billion, a price-to-earnings ratio of 27.12 and a beta of 0.79.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The business had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. During the same quarter last year, the firm posted $0.94 EPS. As a group, equities analysts expect that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a $0.735 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.64%. DT Midstream’s payout ratio is 71.53%.

DT Midstream Company 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.