DT Midstream, Inc. $DTM Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 7.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 871,636 shares of the company’s stock after purchasing an additional 63,438 shares during the period. JPMorgan Chase & Co. owned approximately 0.86% of DT Midstream worth $98,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DTM. Royal Bank of Canada boosted its position in DT Midstream by 21.6% in the 1st quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock valued at $8,711,000 after buying an additional 16,043 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of DT Midstream by 1.6% during the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock worth $1,315,000 after acquiring an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of DT Midstream by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock worth $26,652,000 after acquiring an additional 31,894 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after acquiring an additional 123 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in DT Midstream by 144.8% in the second quarter. Allworth Financial LP now owns 1,410 shares of the company’s stock valued at $155,000 after purchasing an additional 834 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of NYSE 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’s 50-day moving average price is $129.87 and its two-hundred day moving average price is $119.25. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $143.67. The stock has a market capitalization of $13.84 billion, a P/E ratio of 31.56, a P/E/G ratio of 2.82 and a beta of 0.75.

DT Midstream (NYSE:DTM) last announced its quarterly 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 company 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 company posted $0.94 earnings per share. As a group, sell-side analysts forecast 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 given a $0.88 dividend. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s dividend payout ratio is 81.67%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DTM shares. Wells Fargo & Company upped their target price on DT Midstream from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, March 13th. Barclays lifted their price target on shares of DT Midstream from $119.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Citigroup upped their price target on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Finally, Stifel Nicolaus set a $137.00 price target on shares of DT Midstream and gave the stock a “hold” rating in a research report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $141.00.

Insider Transactions at DT Midstream

In other news, CFO Jeffrey A. Jewell purchased 185 shares of DT Midstream stock in a transaction dated 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

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.