DT Midstream, Inc. $DTM Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 871,636 shares of the company’s stock after purchasing an additional 63,438 shares during the quarter. JPMorgan Chase & Co.’s holdings in DT Midstream were worth $98,538,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. 59 North Capital Management LP purchased a new position in DT Midstream during the second quarter worth about $226,757,000. Norges Bank acquired a new position in shares of DT Midstream during the 2nd quarter worth $143,743,000. Merewether Investment Management LP increased its holdings in shares of DT Midstream by 810.1% in the 2nd quarter. Merewether Investment Management LP now owns 342,200 shares of the company’s stock valued at $37,611,000 after purchasing an additional 304,600 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in DT Midstream by 54.4% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 747,781 shares of the company’s stock worth $84,544,000 after buying an additional 263,312 shares during the period. Finally, Copeland Capital Management LLC acquired a new stake in shares of DT Midstream in the 3rd quarter worth approximately $29,237,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DTM. Stifel Nicolaus set a $137.00 price target on DT Midstream in a research report on Monday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $150.00 price objective on shares of DT Midstream in a research note on Sunday. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, January 21st. Morgan Stanley raised 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. Finally, UBS Group increased their price objective on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $133.82.

DT Midstream Price Performance

NYSE DTM opened at $137.93 on Tuesday. DT Midstream, Inc. has a 52 week low of $83.30 and a 52 week high of $138.31. 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 stock has a market cap of $14.03 billion, a price-to-earnings ratio of 32.00, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77. The company has a 50-day moving average price of $123.69 and a two-hundred day moving average price of $115.19.

DT Midstream (NYSE:DTM) last released 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). 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 firm posted $0.94 earnings per share. Analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be given a dividend of $0.88 per share. 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 dividend on an annualized basis and a yield of 2.6%. DT Midstream’s payout ratio is presently 76.10%.

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.