Gotham Asset Management LLC Purchases 55,897 Shares of DT Midstream, Inc. $DTM

Gotham Asset Management LLC raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 26.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 265,180 shares of the company’s stock after purchasing an additional 55,897 shares during the quarter. Gotham Asset Management LLC’s holdings in DT Midstream were worth $29,981,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTM. Vanguard Group Inc. lifted its stake in shares of DT Midstream by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company’s stock worth $1,247,674,000 after acquiring an additional 176,813 shares during the last quarter. 59 North Capital Management LP grew its position in DT Midstream by 49.0% in the 3rd quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company’s stock valued at $347,556,000 after acquiring an additional 1,010,965 shares during the last quarter. Dimensional Fund Advisors LP grew its position in DT Midstream by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company’s stock valued at $301,695,000 after acquiring an additional 99,602 shares during the last quarter. Invesco Ltd. increased its stake in DT Midstream by 15.4% in the second quarter. Invesco Ltd. now owns 1,664,052 shares of the company’s stock worth $182,896,000 after purchasing an additional 222,586 shares during the period. Finally, Norges Bank bought a new stake in shares of DT Midstream during the second quarter worth $143,743,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Jeffrey A. Jewell purchased 185 shares of DT Midstream stock in a transaction dated 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 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

DT Midstream Trading Down 0.4%

NYSE:DTM opened at $137.09 on Tuesday. The firm has a 50-day simple moving average of $129.50 and a 200-day simple moving average of $119.03. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $143.67. The firm has a market cap of $13.95 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.83 and a beta of 0.75. 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 released its quarterly earnings data 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 business had revenue of $317.00 million for the quarter, compared to the consensus estimate 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 prior year, the business posted $0.94 earnings per share. Equities analysts anticipate that DT Midstream, Inc. will post 3.8 EPS 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. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.52 annualized dividend and a yield of 2.6%. DT Midstream’s payout ratio is 76.10%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DTM. Mizuho boosted their target price on shares of DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the company a “buy” rating in a report on Friday, February 20th. Bank of America upped 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. Wall Street Zen raised shares of DT Midstream from a “sell” rating to a “hold” rating in a research report on Sunday. Finally, Citigroup lifted their price target on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Six research 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, DT Midstream currently has an average rating of “Hold” and a consensus price target of $141.00.

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.