DT Midstream, Inc. $DTM Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,668,447 shares of the company’s stock after acquiring an additional 99,602 shares during the period. Dimensional Fund Advisors LP owned 2.62% of DT Midstream worth $301,695,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Miller Howard Investments Inc. NY increased its stake in DT Midstream by 24.9% in the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock valued at $23,789,000 after purchasing an additional 41,929 shares during the period. Principal Financial Group Inc. raised its holdings in shares of DT Midstream by 76.7% in the third quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock valued at $56,568,000 after buying an additional 217,185 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of DT Midstream by 7.8% during the third quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock worth $98,538,000 after buying an additional 63,438 shares during the period. Clean Energy Transition LLP boosted its stake in shares of DT Midstream by 84.7% during the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock worth $35,695,000 after buying an additional 148,911 shares during the period. Finally, First American Bank purchased a new position in shares of DT Midstream during the third quarter worth about $1,373,000. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DTM shares. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, January 21st. JPMorgan Chase & Co. increased their price target on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday. Barclays boosted their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Thursday. Morgan Stanley upped their price objective on shares of DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 10th. Finally, Bank of America raised their target price on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $139.64.

DT Midstream Price Performance

DT Midstream stock opened at $141.67 on Friday. The company has a market cap of $14.41 billion, a P/E ratio of 32.87, a price-to-earnings-growth ratio of 2.90 and a beta of 0.75. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $143.15. The business has a fifty day moving average of $127.37 and a two-hundred day moving average of $117.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07.

DT Midstream (NYSE:DTM) last posted 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 period last year, the company earned $0.94 earnings per share. As a group, analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal 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 dividend of $0.88 per share. The ex-dividend date is Monday, March 16th. This is an increase 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 dividend payout ratio (DPR) is currently 76.10%.

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell bought 185 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was bought at an average cost 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 approximately $12,212,850.39. This represents a 0.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.