Copeland Capital Management LLC Sells 13,338 Shares of DT Midstream, Inc. $DTM

Key Points

• Copeland Capital sold 13,338 shares, trimming its DT Midstream stake by 5.2% to 245,257 shares (about 0.24% of the company) valued at roughly $29.35 million.
• Analysts are mixed—the consensus rating is "Hold" with an average price target of $144.91, though several firms have recently raised price targets and upgraded ratings.
• Fundamentals and payout: DT Midstream slightly missed quarterly EPS estimates ($1.08 vs. $1.11) and raised its quarterly dividend to $0.88 ($3.52 annual, ~2.6% yield) with a payout ratio around 81.7%.

Copeland Capital Management LLC lowered its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,257 shares of the company's stock after selling 13,338 shares during the quarter. Copeland Capital Management LLC owned approximately 0.24% of DT Midstream worth $29,352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DTM. Royal Bank of Canada increased its stake in shares of DT Midstream by 21.6% in the first quarter. Royal Bank of Canada now owns 90,286 shares of the company's stock valued at $8,711,000 after buying an additional 16,043 shares during the period. NewEdge Advisors LLC increased its stake in shares of DT Midstream by 1.6% in the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company's stock valued at $1,315,000 after buying an additional 218 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of DT Midstream by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company's stock valued at $26,652,000 after buying an additional 31,894 shares during the period. Geneos Wealth Management Inc. increased its stake 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 buying an additional 123 shares during the period. Finally, Cresset Asset Management LLC increased its stake in shares of DT Midstream by 2.6% in the second quarter. Cresset Asset Management LLC now owns 6,300 shares of the company's stock valued at $698,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DTM shares. Stifel Nicolaus set a $137.00 price objective on DT Midstream and gave the company a "hold" rating in a research note on Monday, February 23rd. Morgan Stanley raised DT Midstream from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $139.00 to $165.00 in a research note on Wednesday. Wells Fargo & Company upped their price objective on DT Midstream from $150.00 to $165.00 and gave the company an "overweight" rating in a research note on Friday, March 13th. Barclays upped their price objective on DT Midstream from $119.00 to $141.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Finally, UBS Group upped their price objective on DT Midstream from $128.00 to $152.00 and gave the company a "buy" rating in a research note on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $144.91.

DT Midstream Stock Performance

NYSE:DTM opened at $133.76 on Friday. The company has a market capitalization of $13.64 billion, a PE ratio of 31.03, a P/E/G ratio of 2.73 and a beta of 0.75. The company has a 50 day simple moving average of $135.75 and a two-hundred day simple moving average of $123.95. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. DT Midstream, Inc. has a fifty-two week low of $94.15 and a fifty-two week high of $143.67.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.11 by ($0.03). The firm had revenue of $317.00 million for the quarter, compared to analyst estimates 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 in the prior year, the company posted $0.94 EPS. Research analysts anticipate that DT Midstream, Inc. will post 4.63 earnings per share for the current year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. This is a boost from DT Midstream's previous quarterly dividend of $0.82. DT Midstream's payout ratio is currently 81.67%.

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell bought 185 shares of the firm's stock in a transaction on Wednesday, February 25th. The stock was acquired at an average price of $136.33 per share, with a total value of $25,221.05. Following the transaction, the chief financial officer owned 89,583 shares of the company's stock, valued at $12,212,850.39. This trade represents a 0.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.54% 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.

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