DT Midstream, Inc. $DTM is 59 North Capital Management LP’s 3rd Largest Position

59 North Capital Management LP grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 49.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,074,081 shares of the company’s stock after buying an additional 1,010,965 shares during the quarter. DT Midstream makes up about 10.8% of 59 North Capital Management LP’s investment portfolio, making the stock its 3rd largest holding. 59 North Capital Management LP owned approximately 3.02% of DT Midstream worth $347,556,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in DT Midstream by 1.6% in the third quarter. Ameriprise Financial Inc. now owns 124,780 shares of the company’s stock worth $14,123,000 after buying an additional 2,010 shares during the last quarter. Lazard Asset Management LLC raised its position in DT Midstream by 319.8% during the third quarter. Lazard Asset Management LLC now owns 2,607 shares of the company’s stock valued at $295,000 after acquiring an additional 1,986 shares in the last quarter. Creative Planning lifted its stake in DT Midstream by 18.5% in the third quarter. Creative Planning now owns 51,859 shares of the company’s stock valued at $5,863,000 after acquiring an additional 8,078 shares during the last quarter. Credit Agricole S A bought a new stake in DT Midstream in the third quarter worth approximately $2,256,000. Finally, Raymond James Financial Inc. grew its position in DT Midstream by 46.0% in the third quarter. Raymond James Financial Inc. now owns 149,691 shares of the company’s stock worth $16,924,000 after acquiring an additional 47,192 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Bank of America raised their price target on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Citigroup upped their price objective on shares of DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Stifel Nicolaus set a $137.00 target price on shares of DT Midstream and gave the stock a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen upgraded DT Midstream from a “sell” rating to a “hold” rating in a report on Sunday. Finally, Jefferies Financial Group set a $148.00 price target on DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus price target of $141.00.

Insider Activity at DT Midstream

In other news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the transaction, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

DT Midstream Stock Up 1.4%

NYSE DTM opened at $137.58 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a 50-day simple moving average of $129.16 and a 200 day simple moving average of $118.68. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $143.67. The stock has a market cap of $14.00 billion, a PE ratio of 31.92, a PEG ratio of 2.83 and a beta of 0.75.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results 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 firm had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. During the same quarter in the prior year, the firm earned $0.94 earnings per share. On average, research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a $0.88 dividend. The ex-dividend date is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. DT Midstream’s dividend payout ratio is currently 76.10%.

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.