Sigma Planning Corp Trims Stock Holdings in DT Midstream, Inc. $DTM

Sigma Planning Corp reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 23.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,536 shares of the company’s stock after selling 4,748 shares during the period. Sigma Planning Corp’s holdings in DT Midstream were worth $1,708,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ballentine Partners LLC raised its holdings in DT Midstream by 4.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,604 shares of the company’s stock valued at $286,000 after buying an additional 106 shares during the period. Independent Advisor Alliance raised its holdings in DT Midstream by 2.5% in the 1st quarter. Independent Advisor Alliance now owns 4,713 shares of the company’s stock valued at $455,000 after buying an additional 117 shares during the period. Geneos Wealth Management Inc. raised its holdings in DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after buying an additional 123 shares during the period. Applied Finance Capital Management LLC raised its holdings in DT Midstream by 6.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company’s stock valued at $233,000 after buying an additional 147 shares during the period. Finally, Atria Wealth Solutions Inc. grew its position in DT Midstream by 2.6% in the 1st quarter. Atria Wealth Solutions Inc. now owns 7,104 shares of the company’s stock valued at $687,000 after acquiring an additional 181 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $110.06 on Wednesday. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $115.80. The company has a market cap of $11.19 billion, a PE ratio of 27.79, a P/E/G ratio of 2.39 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The business has a 50-day simple moving average of $108.68 and a 200-day simple moving average of $105.14.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.The business had revenue of $309.16 million during the quarter, compared to the consensus estimate of $309.21 million. During the same period in the previous year, the company posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. DT Midstream’s payout ratio is currently 82.83%.

Analyst Ratings Changes

DTM has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of DT Midstream in a research note on Monday. They set a “buy” rating and a $125.00 price target on the stock. Barclays boosted their price target on shares of DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Mizuho increased their target price on shares of DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Wells Fargo & Company increased their target price on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Finally, Morgan Stanley increased their target price on shares of DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $116.00.

Insider Activity at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of the business’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

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.