Advance Capital Management Inc. Purchases New Position in DT Midstream, Inc. (NYSE:DTM)

Advance Capital Management Inc. acquired a new stake in shares of DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, HoldingsChannel.com reports. The firm acquired 2,975 shares of the company’s stock, valued at approximately $296,000.

Several other institutional investors have also modified their holdings of the stock. Commonwealth Equity Services LLC raised its holdings in DT Midstream by 7.2% during the 2nd quarter. Commonwealth Equity Services LLC now owns 41,215 shares of the company’s stock valued at $2,928,000 after buying an additional 2,752 shares during the period. Natixis Advisors LLC grew its stake in shares of DT Midstream by 17.3% during the second quarter. Natixis Advisors LLC now owns 22,212 shares of the company’s stock valued at $1,578,000 after buying an additional 3,270 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in shares of DT Midstream in the second quarter worth approximately $202,000. Victory Capital Management Inc. lifted its stake in shares of DT Midstream by 89.4% during the 2nd quarter. Victory Capital Management Inc. now owns 45,024 shares of the company’s stock worth $3,198,000 after acquiring an additional 21,252 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in DT Midstream by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 27,150 shares of the company’s stock valued at $1,928,000 after acquiring an additional 500 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Down 0.5 %

DTM stock traded down $0.55 on Monday, hitting $103.03. 720,976 shares of the company’s stock were exchanged, compared to its average volume of 674,284. The firm has a 50 day moving average price of $99.82 and a two-hundred day moving average price of $84.67. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85. The stock has a market cap of $10.01 billion, a P/E ratio of 25.07 and a beta of 0.79. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95.

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

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Morgan Stanley increased their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. 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 report on Thursday, October 31st. Stifel Nicolaus upgraded shares of DT Midstream from a “hold” rating to a “buy” rating and upped their target price for the stock from $89.00 to $106.00 in a research note on Thursday, December 19th. The Goldman Sachs Group upped their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.89.

About DT Midstream

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.