DT Midstream, Inc. $DTM Stake Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 871,636 shares of the company’s stock after buying an additional 63,438 shares during the period. JPMorgan Chase & Co.’s holdings in DT Midstream were worth $98,538,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DTM. Miller Howard Investments Inc. NY raised its stake in shares of DT Midstream by 24.9% during the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock valued at $23,789,000 after purchasing an additional 41,929 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of DT Midstream by 76.7% during the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock worth $56,568,000 after buying an additional 217,185 shares in the last quarter. Clean Energy Transition LLP raised its position in shares of 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 buying an additional 148,911 shares in the last quarter. First American Bank acquired a new stake in shares of DT Midstream in the 3rd quarter worth approximately $1,373,000. Finally, 59 North Capital Management LP acquired a new stake in shares of DT Midstream in the 2nd quarter worth approximately $226,757,000. 81.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Jeffrey A. Jewell acquired 185 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average cost of $136.33 per share, with a total value 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 approximately $12,212,850.39. This trade represents a 0.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on DTM shares. Wall Street Zen upgraded shares of DT Midstream from a “sell” rating to a “hold” rating in a research note on Sunday. JPMorgan Chase & Co. increased their price target on DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Citigroup boosted their price objective on DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Mizuho raised their target price on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Finally, Barclays lifted their target price on DT Midstream from $119.00 to $141.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DT Midstream presently has an average rating of “Hold” and an average target price of $141.00.

DT Midstream Stock Performance

DTM opened at $136.01 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $13.84 billion, a PE ratio of 31.56, a P/E/G ratio of 2.82 and a beta of 0.75. The business has a fifty day simple moving average of $129.87 and a 200-day simple moving average of $119.25. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $143.67.

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

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a $0.88 dividend. The ex-dividend date is Monday, March 16th. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. DT Midstream’s dividend payout ratio is currently 81.67%.

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.