Sigma Planning Corp Sells 353 Shares of DT Midstream, Inc. (NYSE:DTM)

Sigma Planning Corp lowered its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 1.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 17,756 shares of the company’s stock after selling 353 shares during the period. Sigma Planning Corp’s holdings in DT Midstream were worth $1,397,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of DTM. Blue Trust Inc. increased its position in DT Midstream by 16.0% during the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock valued at $73,000 after purchasing an additional 142 shares during the period. TFG Advisers LLC increased its position in shares of DT Midstream by 3.1% during the third quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock worth $454,000 after buying an additional 172 shares during the period. Princeton Global Asset Management LLC raised its stake in DT Midstream by 8.6% during the third quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock worth $199,000 after buying an additional 200 shares during the last quarter. Raymond James & Associates lifted its holdings in DT Midstream by 1.1% in the second quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after buying an additional 201 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in DT Midstream by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock valued at $56,000 after acquiring an additional 224 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Stifel Nicolaus lowered DT Midstream from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $78.00 to $89.00 in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Morgan Stanley increased their target price on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $80.44.

DT Midstream Trading Down 0.0 %

Shares of DT Midstream stock opened at $99.81 on Wednesday. The company has a market capitalization of $9.70 billion, a P/E ratio of 24.28 and a beta of 0.71. The stock has a fifty day simple moving average of $83.99 and a 200 day simple moving average of $75.14. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $100.97. 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 (NYSE:DTM) last announced its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $242.64 million. During the same quarter in the prior year, the company earned $0.94 EPS. On average, sell-side analysts anticipate that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is presently 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.