Caprock Group LLC Takes $781,000 Position in DT Midstream, Inc. $DTM

Caprock Group LLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,492 shares of the company’s stock, valued at approximately $781,000.

Several other hedge funds also recently added to or reduced their stakes in DTM. Miller Howard Investments Inc. NY lifted its holdings 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 purchasing an additional 41,929 shares during the last quarter. Principal Financial Group Inc. boosted 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 during the period. Clean Energy Transition LLP increased its holdings in shares of DT Midstream by 84.7% in the 2nd 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 acquired a new stake in shares of DT Midstream in the 3rd quarter worth about $1,373,000. Finally, 59 North Capital Management LP bought a new stake in DT Midstream in the 2nd quarter valued at about $226,757,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Performance

Shares of DTM opened at $133.18 on Tuesday. The company has a 50-day moving average of $122.20 and a two-hundred day moving average of $114.14. The stock has a market cap of $13.54 billion, a price-to-earnings ratio of 33.63, a PEG ratio of 2.37 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $134.81.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DTM shares. Stifel Nicolaus increased their price objective on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. increased their price target on DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Jefferies Financial Group set a $141.00 price objective on shares of DT Midstream and gave the company a “buy” rating in a research note on Friday, January 30th. Bank of America increased their target price on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Barclays upped their price target on shares of DT Midstream from $114.00 to $119.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.09.

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.