DT Midstream, Inc. $DTM Shares Sold by AXQ Capital LP

AXQ Capital LP decreased its holdings in DT Midstream, Inc. (NYSE:DTM) by 69.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,538 shares of the company’s stock after selling 5,828 shares during the period. AXQ Capital LP’s holdings in DT Midstream were worth $287,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of DTM. Cary Street Partners Investment Advisory LLC raised its holdings in shares of DT Midstream by 1,544.8% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 4,885 shares of the company’s stock valued at $552,000 after buying an additional 4,588 shares during the period. Citigroup Inc. boosted its stake in DT Midstream by 112.3% during the 3rd quarter. Citigroup Inc. now owns 80,213 shares of the company’s stock valued at $9,069,000 after acquiring an additional 42,426 shares during the last quarter. Essex Financial Services Inc. acquired a new position in DT Midstream in the third quarter worth about $219,000. Advisors Capital Management LLC bought a new stake in shares of DT Midstream in the 3rd quarter valued at approximately $208,000. Finally, Drucker Wealth 3.0 LLC raised its holdings in shares of DT Midstream by 69.2% during the third quarter. Drucker Wealth 3.0 LLC now owns 9,137 shares of the company’s stock worth $1,033,000 after purchasing an additional 3,736 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on DTM. Bank of America boosted their price objective on DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Mizuho increased their price objective on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. lifted their price target on DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Stifel Nicolaus set a $137.00 price target on shares of DT Midstream and gave the stock a “hold” rating in a research note on Monday. Finally, Jefferies Financial Group set a $148.00 target price on shares of DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average price target of $136.18.

Insider Buying and Selling

In other DT Midstream news, CFO Jeffrey A. Jewell acquired 185 shares of DT Midstream stock in a transaction on Wednesday, February 25th. The shares were bought at an average price of $136.33 per share, with a total value of $25,221.05. Following the completion of the purchase, the chief financial officer 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 legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

DT Midstream Trading Up 0.8%

Shares of DT Midstream stock opened at $138.43 on Friday. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $139.96. The firm has a market capitalization of $14.08 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. The company’s fifty day moving average price is $124.85 and its two-hundred day moving average price is $115.73. 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 (NYSE:DTM) last posted its earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The company had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. During the same quarter last year, the business earned $0.94 EPS. On average, analysts expect 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. Stockholders of record on Monday, March 16th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 16th. DT Midstream’s dividend payout ratio is presently 76.10%.

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.