2,746 Shares in DT Midstream, Inc. (NYSE:DTM) Acquired by Parcion Private Wealth LLC

Parcion Private Wealth LLC acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, Holdings Channel reports. The fund acquired 2,746 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Sigma Investment Counselors Inc. lifted its stake in DT Midstream by 13.7% in the third quarter. Sigma Investment Counselors Inc. now owns 3,792 shares of the company’s stock valued at $298,000 after buying an additional 456 shares in the last quarter. Legacy Capital Group California Inc. bought a new position in DT Midstream in the third quarter valued at approximately $235,000. International Assets Investment Management LLC bought a new position in DT Midstream in the third quarter valued at approximately $39,166,000. TFG Advisers LLC lifted its stake in DT Midstream by 3.1% in the third quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock valued at $454,000 after buying an additional 172 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in DT Midstream by 27.1% in the third quarter. Private Advisor Group LLC now owns 4,695 shares of the company’s stock valued at $369,000 after buying an additional 1,000 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of DTM opened at $87.39 on Friday. DT Midstream, Inc. has a 1-year low of $51.17 and a 1-year high of $88.21. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 21.31 and a beta of 0.74. The company’s fifty day simple moving average is $80.02 and its 200 day simple moving average is $72.53. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

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

DT Midstream Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Barclays boosted their price objective on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Citigroup boosted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley boosted their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average 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.