Cwm LLC Purchases 28,954 Shares of DT Midstream, Inc. $DTM

Key Points

• Cwm LLC raised its stake in DT Midstream by 518%, purchasing 28,954 shares to own 34,544 shares worth about $4.13 million, while institutional investors hold roughly 81.5% of the stock.
• DT Midstream increased its quarterly dividend to $0.88 (annualized $3.52) for a yield of 2.7%, with a dividend payout ratio near 81.7%.
• The company missed Q4 estimates (EPS $1.08 vs. $1.11 expected and revenue slightly below forecasts); analysts' consensus is a "Hold" with a $144.91 price target.

Cwm LLC raised its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 518.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,544 shares of the company's stock after purchasing an additional 28,954 shares during the period. Cwm LLC's holdings in DT Midstream were worth $4,134,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new position in shares of DT Midstream during the 4th quarter valued at about $28,000. Richardson Financial Services Inc. lifted its position in DT Midstream by 62.7% in the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company's stock worth $29,000 after buying an additional 94 shares during the last quarter. Mather Group LLC. purchased a new stake in DT Midstream in the third quarter worth approximately $30,000. Centerpoint Advisors LLC boosted its stake in DT Midstream by 198.9% in the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company's stock worth $30,000 after buying an additional 179 shares in the last quarter. Finally, First Horizon Corp bought a new position in DT Midstream during the third quarter valued at approximately $32,000. Institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $131.79 on Thursday. 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 one year low of $94.15 and a one year high of $143.67. The business's 50 day simple moving average is $135.70 and its two-hundred day simple moving average is $123.88. The stock has a market capitalization of $13.44 billion, a P/E ratio of 30.58, a price-to-earnings-growth ratio of 2.70 and a beta of 0.75.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data 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). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The company had revenue of $317.00 million for the quarter, compared to analysts' expectations of $320.07 million. During the same period last year, the company posted $0.94 EPS. Analysts forecast that DT Midstream, Inc. will post 4.63 EPS for the current year.

DT Midstream Increases Dividend

The company also recently declared 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. This represents a $3.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, March 16th. This is an increase from DT Midstream's previous quarterly dividend of $0.82. DT Midstream's dividend payout ratio is currently 81.67%.

Wall Street Analysts Forecast Growth

DTM has been the topic of several research reports. Barclays lifted their price target on shares of DT Midstream from $119.00 to $141.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 5th. The Goldman Sachs Group increased their target price on shares of DT Midstream from $111.00 to $127.00 and gave the company a "sell" rating in a report on Monday. Mizuho lifted 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. Weiss Ratings reissued a "buy (b)" rating on shares of DT Midstream in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus set a $137.00 price target on shares of DT Midstream and gave the company a "hold" rating in a research report on Monday, February 23rd. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $144.91.

Insiders Place Their Bets

In other news, CFO Jeffrey A. Jewell purchased 185 shares of the business's stock in a transaction on 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 acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by insiders.

DT Midstream Company 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.

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