Citigroup Inc. Boosts Stake in DT Midstream, Inc. $DTM

Citigroup Inc. boosted its holdings in DT Midstream, Inc. (NYSE:DTM) by 112.3% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,213 shares of the company’s stock after acquiring an additional 42,426 shares during the quarter. Citigroup Inc. owned 0.08% of DT Midstream worth $9,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Essex Financial Services Inc. bought a new position in shares of DT Midstream in the third quarter worth approximately $219,000. Advisors Capital Management LLC bought a new stake in DT Midstream during the third quarter valued at approximately $208,000. Drucker Wealth 3.0 LLC grew its stake in DT Midstream by 69.2% in the 3rd quarter. Drucker Wealth 3.0 LLC now owns 9,137 shares of the company’s stock worth $1,033,000 after buying an additional 3,736 shares in the last quarter. Merit Financial Group LLC increased its holdings in shares of DT Midstream by 7.2% in the 3rd quarter. Merit Financial Group LLC now owns 7,199 shares of the company’s stock worth $814,000 after buying an additional 484 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of DT Midstream by 7.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock valued at $98,538,000 after buying an additional 63,438 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 0.1%

Shares of DT Midstream stock opened at $138.72 on Monday. 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, Inc. has a 52-week low of $83.30 and a 52-week high of $139.96. The company’s 50 day moving average price is $125.26 and its 200-day moving average price is $116.14. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 2.47 and a beta of 0.75.

DT Midstream (NYSE:DTM) last announced its quarterly 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). 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 analysts’ expectations of $320.07 million. During the same period in the previous year, the company earned $0.94 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The firm 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 of this dividend is Monday, March 16th. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. DT Midstream’s payout ratio is 76.10%.

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 185 shares of the stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $136.33 per share, with a total value of $25,221.05. Following the transaction, the chief financial officer directly owned 89,583 shares of the company’s stock, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley upped their target price 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. Bank of America lifted their price target on DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wells Fargo & Company reiterated an “overweight” rating and set a $150.00 price objective on shares of DT Midstream in a research report on Sunday, February 22nd. Mizuho raised their price objective on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, Stifel Nicolaus set a $137.00 target price on DT Midstream and gave the stock a “hold” rating in a research report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $136.18.

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.