CIBC Bancorp USA Inc. Invests $43.35 Million in DT Midstream, Inc. $DTM

CIBC Bancorp USA Inc. purchased a new stake in DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 383,396 shares of the company’s stock, valued at approximately $43,347,000. CIBC Bancorp USA Inc. owned approximately 0.38% of DT Midstream as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pathstone Holdings LLC grew its holdings in DT Midstream by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 28,322 shares of the company’s stock valued at $3,215,000 after buying an additional 97 shares in the last quarter. Private Trust Co. NA increased its position in shares of DT Midstream by 23.6% during the third quarter. Private Trust Co. NA now owns 535 shares of the company’s stock valued at $60,000 after buying an additional 102 shares during the period. Cresset Asset Management LLC lifted its holdings in shares of DT Midstream by 1.7% in the third quarter. Cresset Asset Management LLC now owns 6,408 shares of the company’s stock worth $730,000 after buying an additional 108 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its position in shares of DT Midstream by 6.3% in the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,997 shares of the company’s stock valued at $226,000 after acquiring an additional 119 shares during the period. Finally, Geneos Wealth Management Inc. boosted its position in shares of DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

DTM has been the topic of a number of analyst reports. Mizuho upped their target price on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. raised 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. Jefferies Financial Group set a $148.00 price target on shares of DT Midstream and gave the company a “buy” rating in a research report on Friday, February 20th. UBS Group increased 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. Finally, Morgan Stanley lifted 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. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $141.00.

Insider Transactions at DT Midstream

In other news, CFO Jeffrey A. Jewell purchased 185 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was purchased 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 directly owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by company insiders.

DT Midstream Trading Down 0.8%

Shares of DT Midstream stock opened at $136.01 on Wednesday. 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, Inc. has a 1 year low of $83.30 and a 1 year high of $143.67. The firm has a market cap of $13.83 billion, a PE ratio of 31.56, a PEG ratio of 2.82 and a beta of 0.75. The company has a 50 day simple moving average of $129.87 and a two-hundred day simple moving average of $119.25.

DT Midstream (NYSE:DTM) last issued 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 during the quarter, compared to the consensus estimate of $320.07 million. During the same period in the previous year, the company earned $0.94 EPS. Analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared 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. The ex-dividend date is Monday, March 16th. This is a positive change 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 dividend payout ratio (DPR) is 81.67%.

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.