Inceptionr LLC Grows Position in DT Midstream, Inc. $DTM

Inceptionr LLC raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 187.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 11,525 shares of the company’s stock after acquiring an additional 7,512 shares during the period. Inceptionr LLC’s holdings in DT Midstream were worth $1,303,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of DTM. Mather Group LLC. bought a new stake in shares of DT Midstream in the 3rd quarter worth $30,000. Centerpoint Advisors LLC boosted its holdings in DT Midstream by 198.9% during the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after purchasing an additional 179 shares during the last quarter. First Horizon Corp bought a new stake in DT Midstream in the 3rd quarter worth about $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in DT Midstream in the 2nd quarter worth about $33,000. Finally, Root Financial Partners LLC purchased a new stake in DT Midstream in the 3rd quarter valued at about $33,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Mizuho upped their target price on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. UBS Group boosted their price objective on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. 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. Citigroup lifted their target price on DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen lowered shares of DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, DT Midstream currently has an average rating of “Hold” and a consensus price target of $139.64.

DT Midstream Price Performance

Shares of NYSE DTM opened at $141.67 on Monday. 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 fifty day simple moving average of $127.37 and a two-hundred day simple moving average of $117.51. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $143.15. The firm 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.

DT Midstream (NYSE:DTM) last issued its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The firm had revenue of $317.00 million during the quarter, compared to the consensus estimate of $320.07 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. Analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The company 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. The ex-dividend date is Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio (DPR) is presently 81.67%.

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell acquired 185 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were acquired at an average cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

About DT Midstream

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.