Deroy & Devereaux Private Investment Counsel Inc. Sells 8,342 Shares of DT Midstream, Inc. $DTM

Key Points

• Deroy & Devereaux Private Investment Counsel sold 8,342 shares of DT Midstream in Q4 (a 2.5% reduction), leaving it with 329,868 shares—about 1.9% of the fund's portfolio and roughly $39.48 million in value (0.32% of the company).
• DT Midstream CFO Jeffrey A. Jewell bought 185 shares
• The company slightly missed quarterly estimates (EPS $1.08 vs. $1.11 expected; revenue $317M vs. $320.07M) but raised its quarterly dividend to $0.88 ($3.52 annualized, 2.6% yield); analysts' consensus is a "Hold" with an average target of $144.10.

Deroy & Devereaux Private Investment Counsel Inc. cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 329,868 shares of the company's stock after selling 8,342 shares during the quarter. DT Midstream makes up approximately 1.9% of Deroy & Devereaux Private Investment Counsel Inc.'s portfolio, making the stock its 11th largest holding. Deroy & Devereaux Private Investment Counsel Inc. owned 0.32% of DT Midstream worth $39,479,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. 59 North Capital Management LP raised its position in shares of DT Midstream by 49.0% in the third quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company's stock valued at $347,556,000 after purchasing an additional 1,010,965 shares during the period. Dimensional Fund Advisors LP boosted its holdings in DT Midstream by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company's stock worth $301,695,000 after buying an additional 99,602 shares during the period. Merewether Investment Management LP grew its stake in DT Midstream by 192.4% in the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company's stock valued at $113,128,000 after buying an additional 658,400 shares in the last quarter. Northern Trust Corp grew its stake in DT Midstream by 1.7% in the 3rd quarter. Northern Trust Corp now owns 914,538 shares of the company's stock valued at $103,398,000 after buying an additional 15,044 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 acquiring an additional 63,438 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

Insiders Place Their Bets

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of the firm's stock in a transaction on Wednesday, February 25th. The shares were acquired at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the purchase, the chief financial officer directly owned 89,583 shares of the company's stock, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

DT Midstream Stock Performance

NYSE DTM opened at $134.26 on Friday. The company's 50 day simple moving average is $135.68 and its two-hundred day simple moving average is $123.52. 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 $91.33 and a 1 year high of $143.67. The stock has a market capitalization of $13.70 billion, a PE ratio of 31.15, a P/E/G ratio of 2.73 and a beta of 0.75.

DT Midstream (NYSE:DTM - Get Free Report) last released 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 net margin of 35.48% and a return on equity of 9.13%. The firm had revenue of $317.00 million for the quarter, compared to analysts' expectations of $320.07 million. During the same quarter last year, the firm earned $0.94 earnings per share. Analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 16th were given a dividend of $0.88 per share. The ex-dividend date was Monday, March 16th. This is a positive change from DT Midstream's previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 2.6%. DT Midstream's dividend payout ratio (DPR) is presently 81.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DTM shares. Barclays increased their target price on DT Midstream from $119.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 5th. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $126.00 to $142.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. UBS Group increased their price objective on DT Midstream from $128.00 to $152.00 and gave the stock a "buy" rating in a report on Friday, February 20th. Wells Fargo & Company raised their target price on DT Midstream from $150.00 to $165.00 and gave the stock an "overweight" rating in a research note on Friday, March 13th. Finally, Wall Street Zen lowered DT Midstream from a "hold" rating to a "sell" rating in a report on Saturday, March 28th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, DT Midstream presently has a consensus rating of "Hold" and an average target price of $144.10.

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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