Neo Ivy Capital Management Buys New Shares in DT Midstream, Inc. $DTM

Neo Ivy Capital Management purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,244 shares of the company’s stock, valued at approximately $932,000.

Other hedge funds also recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of DT Midstream during the 3rd quarter valued at $30,000. Centerpoint Advisors LLC raised its position in shares of 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 during the period. First Horizon Corp purchased a new position in shares of DT Midstream in the 3rd quarter worth $32,000. Root Financial Partners LLC acquired a new position in DT Midstream in the third quarter valued at $33,000. Finally, Westside Investment Management Inc. boosted its holdings in DT Midstream by 100.0% in 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 during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Down 0.1%

Shares of DT Midstream stock opened at $141.67 on Friday. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $143.15. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 2.89 and a beta of 0.75. 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 company has a fifty day moving average price of $127.37 and a 200 day moving average price of $117.41.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.03). The company had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same period last year, the business earned $0.94 earnings per share. Equities research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share 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. Investors of record on Monday, March 16th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Monday, March 16th. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio (DPR) is 76.10%.

Insider Activity at DT Midstream

In related news, CFO Jeffrey A. Jewell bought 185 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the acquisition, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

DTM has been the subject of several research analyst reports. Bank of America upped 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. Jefferies Financial Group set a $148.00 price objective on DT Midstream and gave the company a “buy” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. boosted their target price on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a report on Thursday. Mizuho increased their target price on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.