Intech Investment Management LLC Purchases 26,610 Shares of DT Midstream, Inc. $DTM

Intech Investment Management LLC raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 22.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,274 shares of the company’s stock after acquiring an additional 26,610 shares during the period. Intech Investment Management LLC owned about 0.14% of DT Midstream worth $16,651,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Miller Howard Investments Inc. NY grew its position in shares of DT Midstream by 24.9% in the 3rd 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 last quarter. Principal Financial Group Inc. raised its holdings in shares of DT Midstream by 76.7% during the third quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock valued at $56,568,000 after acquiring an additional 217,185 shares in the last quarter. Clean Energy Transition LLP lifted its stake in DT Midstream by 84.7% in the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock worth $35,695,000 after acquiring an additional 148,911 shares during the period. First American Bank purchased a new stake in DT Midstream in the third quarter worth $1,373,000. Finally, JPMorgan Chase & Co. boosted 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 in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Jeffrey A. Jewell acquired 185 shares of DT Midstream stock in a transaction on Wednesday, February 25th. The stock was acquired at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the purchase, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on DTM shares. Mizuho upped their price objective on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Wells Fargo & Company reiterated an “overweight” rating and set a $150.00 price target on shares of DT Midstream in a research report on Sunday. UBS Group increased their price target on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Jefferies Financial Group set a $148.00 price objective on DT Midstream and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Citigroup upped their target price on DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $136.18.

DT Midstream Price Performance

Shares of NYSE 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. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $138.31. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

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

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.88 per share. The ex-dividend date is Monday, March 16th. This is a boost 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 is 76.10%.

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.