Intech Investment Management LLC Raises Holdings in DT Midstream, Inc. $DTM

Intech Investment Management LLC increased its holdings in DT Midstream, Inc. (NYSE:DTM) by 22.1% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 147,274 shares of the company’s stock after buying an additional 26,610 shares during the quarter. Intech Investment Management LLC’s holdings in DT Midstream were worth $16,651,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. Miller Howard Investments Inc. NY lifted its holdings in shares of DT Midstream by 24.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock valued at $23,789,000 after buying an additional 41,929 shares during the period. Principal Financial Group Inc. grew its holdings in shares of DT Midstream by 76.7% in the third quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock worth $56,568,000 after acquiring an additional 217,185 shares during the period. Clean Energy Transition LLP increased its position in DT Midstream by 84.7% during the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock valued at $35,695,000 after acquiring an additional 148,911 shares during the last quarter. First American Bank bought a new position in DT Midstream in the third quarter valued at about $1,373,000. Finally, JPMorgan Chase & Co. lifted its holdings in DT Midstream by 7.8% in the third quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock valued at $98,538,000 after acquiring an additional 63,438 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the transaction, the chief financial officer owned 89,583 shares of the company’s stock, valued at $12,212,850.39. This trade represents a 0.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

DT Midstream Stock Performance

DTM opened at $137.36 on Thursday. The company has a 50 day simple moving average of $124.44 and a two-hundred day simple moving average of $115.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $13.97 billion, a P/E ratio of 31.87, a PEG ratio of 2.44 and a beta of 0.77. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $138.31.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $317.00 million for the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter last year, the firm posted $0.94 EPS. Equities analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a $0.88 dividend. The ex-dividend date is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. DT Midstream’s dividend payout ratio (DPR) is presently 76.10%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DTM. Barclays boosted their price target on DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. UBS Group upped their target price on shares of DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a report on Friday, February 20th. Wells Fargo & Company reiterated an “overweight” rating and issued a $150.00 price target on shares of DT Midstream in a research report on Sunday. Finally, Mizuho lifted their price target on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $136.18.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.