NBC Securities Inc. Sells 221 Shares of DT Midstream, Inc. (NYSE:DTM)

NBC Securities Inc. reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 0.4% in the third quarter, Holdings Channel.com reports. The institutional investor owned 55,464 shares of the company’s stock after selling 221 shares during the period. NBC Securities Inc.’s holdings in DT Midstream were worth $4,362,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bright Rock Capital Management LLC purchased a new position in shares of DT Midstream during the 1st quarter worth approximately $916,000. Prevail Innovative Wealth Advisors LLC raised its holdings in DT Midstream by 37.9% in the first 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 in the last quarter. Illinois Municipal Retirement Fund lifted its position in DT Midstream by 137.6% during the first 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 during the period. Meeder Asset Management Inc. purchased a new position in DT Midstream during the first quarter valued at $1,085,000. Finally, Cetera Investment Advisers boosted its holdings in shares of DT Midstream by 1,223.2% during the 1st quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock valued at $3,306,000 after buying an additional 50,018 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Down 0.5 %

Shares of DTM traded down $0.46 on Tuesday, hitting $85.89. 90,183 shares of the stock traded hands, compared to its average volume of 639,006. DT Midstream, Inc. has a one year low of $51.17 and a one year high of $86.82. The company has a market capitalization of $8.34 billion, a PE ratio of 21.06 and a beta of 0.74. The business has a 50 day simple moving average of $77.60 and a 200 day simple moving average of $71.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping 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 business had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same quarter last year, the company earned $0.93 EPS. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.99 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.42%. DT Midstream’s payout ratio is 71.71%.

Analysts Set New Price Targets

Several brokerages recently issued reports on DTM. Stifel Nicolaus increased their price target on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays raised their target price on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Citigroup upped their price target on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company lifted their price objective on DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $73.00.

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.