Advance Capital Management Inc. Takes $296,000 Position in DT Midstream, Inc. (NYSE:DTM)

Advance Capital Management Inc. acquired a new position in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,975 shares of the company’s stock, valued at approximately $296,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DTM. Commonwealth Equity Services LLC lifted its holdings in shares of DT Midstream by 7.2% during the second quarter. Commonwealth Equity Services LLC now owns 41,215 shares of the company’s stock valued at $2,928,000 after purchasing an additional 2,752 shares in the last quarter. Natixis Advisors LLC lifted its position in 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 purchasing an additional 3,270 shares during the period. CIBC Asset Management Inc purchased a new position in shares of DT Midstream in the 2nd quarter worth $202,000. Victory Capital Management Inc. increased its position in DT Midstream by 89.4% during the second quarter. Victory Capital Management Inc. now owns 45,024 shares of the company’s stock valued at $3,198,000 after acquiring an additional 21,252 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in DT Midstream by 1.9% in the second 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.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and boosted their price target for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Barclays upped their target price on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. The Goldman Sachs Group upped their price objective on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research note on Thursday, December 19th. Wells Fargo & Company increased their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted 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. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $88.89.

DT Midstream Price Performance

Shares of DTM stock traded down $0.55 during mid-day trading on Monday, hitting $103.03. The company had a trading volume of 720,976 shares, compared to its average volume of 674,284. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The stock’s 50 day moving average price is $99.82 and its 200-day moving average price is $84.67. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85. The company has a market capitalization of $10.01 billion, a P/E ratio of 25.07 and a beta of 0.79.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.94 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.85%. DT Midstream’s dividend payout ratio (DPR) is 71.53%.

DT Midstream 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.