Sound Income Strategies LLC Acquires 163 Shares of DT Midstream, Inc. (NYSE:DTM)

Sound Income Strategies LLC increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 93.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 337 shares of the company’s stock after acquiring an additional 163 shares during the quarter. Sound Income Strategies LLC’s holdings in DT Midstream were worth $34,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of DTM. Secure Asset Management LLC bought a new position in shares of DT Midstream during the fourth quarter worth approximately $230,000. Janney Montgomery Scott LLC increased its stake in DT Midstream by 70.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,577 shares of the company’s stock worth $1,052,000 after acquiring an additional 4,365 shares during the period. XML Financial LLC acquired a new position in DT Midstream in the 4th quarter valued at $249,000. Ballentine Partners LLC bought a new stake in shares of DT Midstream during the 4th quarter valued at $237,000. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of DT Midstream by 17.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock worth $69,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Up 0.1 %

Shares of NYSE:DTM opened at $111.46 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $114.50. The company has a market capitalization of $10.83 billion, a PE ratio of 27.12 and a beta of 0.79. The company has a fifty day moving average of $104.05 and a 200-day moving average of $88.61.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The firm had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. During the same period in the previous year, the company earned $0.94 EPS. On average, equities analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.735 per share. The ex-dividend date was Monday, December 16th. This represents a $2.94 annualized dividend and a yield of 2.64%. DT Midstream’s dividend payout ratio is presently 71.53%.

Wall Street Analysts Forecast Growth

DTM has been the subject of a number of analyst reports. Stifel Nicolaus raised DT Midstream from a “hold” rating to a “buy” rating and boosted their price target for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. Wells Fargo & Company upped their price target 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. The Goldman Sachs Group lifted their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Barclays started coverage on DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 target price for the company. Finally, Morgan Stanley lifted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus target price of $99.88.

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.