Legacy Capital Group California Inc. Purchases New Position in DT Midstream, Inc. (NYSE:DTM)

Legacy Capital Group California Inc. acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,983 shares of the company’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after purchasing an additional 240 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of DT Midstream during the second quarter worth approximately $26,000. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the third quarter valued at approximately $29,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream in the 2nd quarter worth approximately $31,000. Finally, American National Bank grew its position in DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company’s stock worth $33,000 after acquiring an additional 234 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Citigroup boosted their price objective on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Stifel Nicolaus upped their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their price objective 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. Barclays upped their target price on shares of DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $77.38.

DT Midstream Trading Down 0.6 %

Shares of NYSE DTM opened at $87.39 on Friday. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $88.21. The firm has a market capitalization of $8.49 billion, a P/E ratio of 21.31 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The company’s 50 day simple moving average is $80.02 and its 200 day simple moving average is $72.46.

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

DT Midstream Announces Dividend

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

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.