TFG Advisers LLC Buys 172 Shares of DT Midstream, Inc. (NYSE:DTM)

TFG Advisers LLC raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 3.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,774 shares of the company’s stock after purchasing an additional 172 shares during the period. TFG Advisers LLC’s holdings in DT Midstream were worth $454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DTM. Blue Trust Inc. boosted its holdings in shares of DT Midstream by 16.0% in the 2nd quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after purchasing an additional 142 shares in the last quarter. Raymond James & Associates grew its position in DT Midstream by 1.1% during the second quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock valued at $1,289,000 after acquiring an additional 201 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of DT Midstream by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock worth $56,000 after acquiring an additional 224 shares in the last quarter. First Citizens Bank & Trust Co. lifted its holdings in shares of DT Midstream by 6.9% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the company’s stock worth $278,000 after acquiring an additional 228 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of DT Midstream by 11.7% in the 2nd quarter. Signaturefd LLC now owns 2,212 shares of the company’s stock valued at $157,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DTM. Stifel Nicolaus lifted their price objective on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Citigroup boosted their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Wells Fargo & Company increased their price target on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Barclays boosted their price objective on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $75.29.

DT Midstream Stock Performance

DTM traded up $0.11 during midday trading on Wednesday, reaching $87.12. The company had a trading volume of 47,689 shares, compared to its average volume of 635,952. The business has a 50-day moving average of $78.96 and a two-hundred day moving average of $71.90. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $87.45. The company has a market cap of $8.46 billion, a P/E ratio of 21.22 and a beta of 0.74.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same quarter in the prior year, the firm posted $0.93 EPS. As a group, equities 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th were issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend was Monday, September 16th. DT Midstream’s dividend payout ratio (DPR) is presently 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.