DT Midstream, Inc. $DTM Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its position in DT Midstream, Inc. (NYSE:DTM) by 34.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 469,405 shares of the company’s stock after acquiring an additional 120,951 shares during the quarter. Russell Investments Group Ltd. owned about 0.46% of DT Midstream worth $53,071,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its stake in DT Midstream by 21.6% during the 1st quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock worth $8,711,000 after purchasing an additional 16,043 shares during the period. NewEdge Advisors LLC increased its stake in DT Midstream by 1.6% in the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock valued at $1,315,000 after purchasing an additional 218 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of DT Midstream by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock valued at $26,652,000 after buying an additional 31,894 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after buying an additional 123 shares during the period. Finally, Savant Capital LLC grew its holdings in shares of DT Midstream by 23.1% during the second quarter. Savant Capital LLC now owns 7,589 shares of the company’s stock worth $834,000 after buying an additional 1,424 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the transaction, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

DT Midstream Trading Down 0.4%

Shares of DTM opened at $139.47 on Wednesday. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $143.67. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $14.19 billion, a P/E ratio of 32.36, a PEG ratio of 2.86 and a beta of 0.75. The firm’s 50-day moving average is $128.13 and its two-hundred day moving average is $118.04.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) 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 net margin of 35.48% and a return on equity of 9.13%. During the same quarter in the previous year, the business posted $0.94 earnings per share. On average, research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently disclosed 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. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, March 16th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio is currently 76.10%.

Wall Street Analyst Weigh In

DTM has been the subject of several analyst reports. Morgan Stanley upped their price objective on DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, February 10th. JPMorgan Chase & Co. boosted their target price on DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Wells Fargo & Company restated an “overweight” rating and set a $150.00 price target on shares of DT Midstream in a research note on Sunday, February 22nd. Barclays increased their price target on DT Midstream from $119.00 to $141.00 and gave the stock an “equal weight” rating in a report on Thursday, March 5th. Finally, Wall Street Zen cut shares of DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday. 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $139.64.

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.