Victory Capital Management Inc. Grows Stake in DT Midstream, Inc. $DTM

Victory Capital Management Inc. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,578 shares of the company’s stock after acquiring an additional 4,581 shares during the period. Victory Capital Management Inc.’s holdings in DT Midstream were worth $11,824,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DTM. Miller Howard Investments Inc. NY increased its position in DT Midstream by 24.9% during the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock worth $23,789,000 after buying an additional 41,929 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of DT Midstream by 7.8% in the 3rd 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. Principal Financial Group Inc. raised its position in DT Midstream by 76.7% in the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock valued at $56,568,000 after purchasing an additional 217,185 shares during the last quarter. Clean Energy Transition LLP boosted its stake in DT Midstream by 84.7% during the 2nd quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock worth $35,695,000 after purchasing an additional 148,911 shares during the period. Finally, First American Bank acquired a new position in DT Midstream in the third quarter valued at $1,373,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 0.4%

NYSE DTM opened at $138.80 on Thursday. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $143.67. The firm has a 50-day moving average price of $128.51 and a 200 day moving average price of $118.19. The stock has a market capitalization of $14.12 billion, a P/E ratio of 32.20, a P/E/G ratio of 2.87 and a beta of 0.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

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

DT Midstream Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 yield of 2.5%. DT Midstream’s dividend payout ratio (DPR) is currently 81.67%.

Insider Buying and Selling

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $136.33 per share, with a total value of $25,221.05. Following the completion of the acquisition, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

DTM has been the subject of several recent research reports. Citigroup increased their target price on shares of DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $150.00 price objective on shares of DT Midstream in a research report on Sunday, February 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Barclays boosted their target price on DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. Finally, UBS Group increased their price target on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DT Midstream presently has an average rating of “Hold” and an average target price of $139.64.

DT Midstream 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.