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

Sigma Investment Counselors Inc. raised its stake in DT Midstream, Inc. (NYSE:DTM) by 13.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,792 shares of the company’s stock after purchasing 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 quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after purchasing an additional 490,613 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in DT Midstream by 1.6% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock valued at $144,398,000 after purchasing an additional 37,463 shares during the last quarter. Bank of New York Mellon Corp lifted its position in DT Midstream by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after purchasing an additional 38,305 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in shares of DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after acquiring an additional 60,370 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of DT Midstream by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after acquiring an additional 99,755 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM opened at $87.39 on Friday. The stock has a fifty day simple moving average of $80.02 and a two-hundred day simple moving average of $72.46. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 21.31 and a beta of 0.74. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $88.21.

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

DT Midstream Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays upped their target price on DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Wells Fargo & Company upped their target price on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley upped their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday. Stifel Nicolaus upped their target price on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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.