SG Americas Securities LLC Makes New Investment in DT Midstream, Inc. (NYSE:DTM)

SG Americas Securities LLC acquired a new position in DT Midstream, Inc. (NYSE:DTM) during the second quarter, HoldingsChannel reports. The institutional investor acquired 3,554 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors have also recently made changes to their positions in DTM. Bright Rock Capital Management LLC bought a new position in DT Midstream in the first quarter worth approximately $916,000. Prevail Innovative Wealth Advisors LLC boosted its stake in shares of DT Midstream by 37.9% during the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after purchasing an additional 10,418 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of DT Midstream by 8.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after purchasing an additional 266,433 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in DT Midstream by 137.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock valued at $1,840,000 after buying an additional 17,437 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in DT Midstream during the 1st quarter valued at about $1,085,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DTM shares. Mizuho boosted their price target on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Wells Fargo & Company boosted their target price on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Stifel Nicolaus upped their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Barclays upped their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $70.00.

DT Midstream Stock Up 1.1 %

Shares of NYSE DTM opened at $76.57 on Friday. The business has a 50-day moving average of $72.14 and a two-hundred day moving average of $65.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.71. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 18.68 and a beta of 0.74. DT Midstream, Inc. has a 1 year low of $50.54 and a 1 year high of $76.78.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the previous year, the company posted $0.93 EPS. On average, analysts forecast that DT Midstream, Inc. will post 3.9 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.84%. DT Midstream’s payout ratio is currently 71.71%.

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.