Neo Ivy Capital Management Invests $932,000 in DT Midstream, Inc. $DTM

Neo Ivy Capital Management bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,244 shares of the company’s stock, valued at approximately $932,000.

A number of other large investors have also added to or reduced their stakes in the company. Mather Group LLC. purchased a new stake in DT Midstream during the 3rd quarter worth $30,000. Centerpoint Advisors LLC lifted its holdings in DT Midstream by 198.9% in the 3rd quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after buying an additional 179 shares in the last quarter. First Horizon Corp purchased a new position in DT Midstream in the 3rd quarter valued at about $32,000. Root Financial Partners LLC acquired a new stake in shares of DT Midstream during the third quarter valued at about $33,000. Finally, Westside Investment Management Inc. grew its stake in shares of DT Midstream by 100.0% during the third quarter. Westside Investment Management Inc. now owns 290 shares of the company’s stock valued at $33,000 after acquiring an additional 145 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DT Midstream

In other news, CFO Jeffrey A. Jewell bought 185 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DTM shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, January 21st. Morgan Stanley raised 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. Stifel Nicolaus set a $137.00 price objective on DT Midstream and gave the stock a “hold” rating in a report on Monday, February 23rd. Bank of America upped their target price on DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Finally, Barclays increased their target price on DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a research note on Thursday. Six 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. Based on data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $139.64.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $141.67 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. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $143.15. The firm’s 50-day simple moving average is $127.37 and its 200-day simple moving average is $117.41. The firm has a market cap of $14.41 billion, a PE ratio of 32.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.75.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.During the same quarter last year, the business posted $0.94 earnings per share. Equities analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio (DPR) is 76.10%.

DT Midstream Company 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.