Quantbot Technologies LP Purchases Shares of 17,097 DT Midstream, Inc. $DTM

Quantbot Technologies LP acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,097 shares of the company’s stock, valued at approximately $1,933,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DTM. 59 North Capital Management LP bought a new stake in shares of DT Midstream in the 2nd quarter worth about $226,757,000. Norges Bank bought a new stake in DT Midstream during the second quarter worth about $143,743,000. Merewether Investment Management LP increased its holdings in shares of DT Midstream by 810.1% during the second quarter. Merewether Investment Management LP now owns 342,200 shares of the company’s stock worth $37,611,000 after buying an additional 304,600 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of DT Midstream by 54.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 747,781 shares of the company’s stock valued at $84,544,000 after acquiring an additional 263,312 shares during the last quarter. Finally, Copeland Capital Management LLC bought a new position in shares of DT Midstream in the third quarter valued at approximately $29,237,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Buying and Selling at DT Midstream

In other news, CFO Jeffrey A. Jewell acquired 185 shares of the firm’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 acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on DTM shares. Barclays raised their price target on DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Morgan Stanley increased their target price on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. raised their target price on DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Citigroup upped their price target on shares of DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Mizuho raised their price objective on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $136.18.

DT Midstream Price Performance

DT Midstream stock opened at $142.26 on Thursday. The business’s 50-day simple moving average is $126.53 and its 200 day simple moving average is $116.85. 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 stock has a market cap of $14.47 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 2.50 and a beta of 0.75. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $142.85.

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 analysts’ consensus estimates of $1.11 by ($0.03). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The business had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be paid a $0.88 dividend. The ex-dividend date of this dividend 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 payout ratio is currently 76.10%.

About DT Midstream

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.