Victory Capital Management Inc. Increases Holdings in DT Midstream, Inc. $DTM

Victory Capital Management Inc. boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,578 shares of the company’s stock after buying an additional 4,581 shares during the period. Victory Capital Management Inc. owned 0.10% of DT Midstream worth $11,824,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mather Group LLC. purchased a new stake in shares of DT Midstream in the third quarter valued at about $30,000. Centerpoint Advisors LLC increased its holdings in shares of DT Midstream by 198.9% during the 3rd quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after buying an additional 179 shares during the last quarter. First Horizon Corp purchased a new stake in shares of DT Midstream during the 3rd quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC acquired a new position in DT Midstream in the second quarter valued at approximately $33,000. Finally, Root Financial Partners LLC purchased a new position in DT Midstream in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

DTM has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. JPMorgan Chase & Co. boosted their target price on DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Wells Fargo & Company reiterated an “overweight” rating and issued a $150.00 price objective on shares of DT Midstream in a report on Sunday, February 22nd. Wall Street Zen lowered shares of DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, March 7th. 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 note on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average target price of $139.64.

DT Midstream Trading Down 0.4%

DTM opened at $138.80 on Thursday. The business has a fifty day moving average price of $128.51 and a 200 day moving average price of $118.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. DT Midstream, Inc. has a 12 month low of $83.30 and a 12 month high of $143.67. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 32.20, a PEG ratio of 2.87 and a beta of 0.75.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data 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). 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 during the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter in the previous year, the business posted $0.94 EPS. Sell-side analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently disclosed 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. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio (DPR) is 81.67%.

Insider Activity

In other news, CFO Jeffrey A. Jewell acquired 185 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $136.33 per share, with a total value of $25,221.05. Following the transaction, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.