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

Gotham Asset Management LLC increased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 26.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 265,180 shares of the company’s stock after purchasing an additional 55,897 shares during the period. Gotham Asset Management LLC owned 0.26% of DT Midstream worth $29,981,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Miller Howard Investments Inc. NY raised its stake in DT Midstream by 24.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock valued at $23,789,000 after purchasing an additional 41,929 shares during the period. JPMorgan Chase & Co. grew its holdings in DT Midstream by 7.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock valued at $98,538,000 after buying an additional 63,438 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of DT Midstream by 76.7% during the third quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock valued at $56,568,000 after buying an additional 217,185 shares during the last quarter. Clean Energy Transition LLP lifted its holdings in shares of DT Midstream by 84.7% in the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock worth $35,695,000 after buying an additional 148,911 shares in the last quarter. Finally, First American Bank bought a new position in shares of DT Midstream during the third quarter worth $1,373,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 0.4%

Shares of DTM stock opened at $137.09 on Tuesday. The company has a market cap of $13.95 billion, a PE ratio of 31.81, a price-to-earnings-growth ratio of 2.83 and a beta of 0.75. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $143.67. The stock’s 50 day simple moving average is $129.50 and its two-hundred day simple moving average is $119.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07.

DT Midstream (NYSE:DTM) last announced its 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 during the quarter, compared to analysts’ expectations of $320.07 million. During the same quarter last year, the firm posted $0.94 EPS. Research analysts predict 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. Shareholders of record on Monday, March 16th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 16th. DT Midstream’s dividend payout ratio (DPR) is presently 76.10%.

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction dated Wednesday, February 25th. The shares were acquired at an average price of $136.33 per share, with a total value of $25,221.05. Following the completion of the purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DTM has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Stifel Nicolaus set a $137.00 price target on DT Midstream and gave the company a “hold” rating in a research note on Monday, February 23rd. Jefferies Financial Group set a $148.00 price objective on DT Midstream and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Bank of America increased 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. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.