Park Avenue Securities LLC Invests $730,000 in DT Midstream, Inc. $DTM

Park Avenue Securities LLC bought a new position in DT Midstream, Inc. (NYSE:DTM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,101 shares of the company’s stock, valued at approximately $730,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in DT Midstream by 21.6% during the first quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock worth $8,711,000 after acquiring an additional 16,043 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of DT Midstream by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock valued at $1,315,000 after purchasing an additional 218 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of DT Midstream by 13.1% during the 1st 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 purchasing an additional 31,894 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after purchasing an additional 123 shares during the period. Finally, Prudential Financial Inc. increased its position in DT Midstream by 34.3% during the 2nd quarter. Prudential Financial Inc. now owns 13,283 shares of the company’s stock worth $1,460,000 after purchasing an additional 3,391 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen cut shares of DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus set a $137.00 target price on shares of DT Midstream and gave the company a “hold” rating in a research note on Monday, February 23rd. Jefferies Financial Group set a $148.00 target price on shares of DT Midstream and gave the company a “buy” rating in a report on Friday, February 20th. Mizuho upped their price target on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, UBS Group increased their price target on DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a report on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average price target of $144.10.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of the stock in a transaction dated Wednesday, February 25th. The stock was bought at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the purchase, the chief financial officer directly owned 89,583 shares of the company’s stock, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by corporate insiders.

DT Midstream Trading Down 1.4%

DTM opened at $135.21 on Friday. The firm’s 50 day moving average is $132.67 and its 200-day moving average is $120.79. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $143.67. 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 capitalization of $13.75 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.84 and a beta of 0.75.

DT Midstream (NYSE:DTM) last announced its 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). The firm had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter last year, the company posted $0.94 earnings per share. Analysts expect that DT Midstream, Inc. will post 3.8 EPS 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. Shareholders of record on Monday, March 16th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. 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.