DT Midstream, Inc. $DTM is Eagle Global Advisors LLC's 10th Largest Position

Key Points

• Eagle Global Advisors trimmed its stake in DT Midstream by 2.2% to 494,411 shares, making DTM its 10th-largest holding (about 2.2% of Eagle’s portfolio and ~0.49% of the company, valued at $59.17M).
• Financial/operating update: DTM missed Q4 EPS expectations ($1.08 vs. $1.11), reported $317M revenue, raised its quarterly dividend to $0.88 (annualized $3.52, yield 2.7%, DPR ~81.7%), and trades with a market cap of $13.32B and a P/E of 30.3.
• Investor sentiment: Institutional ownership is high (~81.5%) with several funds materially increasing positions, while analysts hold a consensus "Hold" rating and a $142.55 target price (mixed Buy/Hold/Sell ratings across firms).

Eagle Global Advisors LLC cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 494,411 shares of the company's stock after selling 11,060 shares during the quarter. DT Midstream accounts for about 2.2% of Eagle Global Advisors LLC's portfolio, making the stock its 10th biggest position. Eagle Global Advisors LLC owned approximately 0.49% of DT Midstream worth $59,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DTM. 59 North Capital Management LP raised its stake 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 worth $347,556,000 after purchasing an additional 1,010,965 shares during the last quarter. Merewether Investment Management LP raised its stake in shares of DT Midstream by 192.4% in the third quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company's stock worth $113,128,000 after purchasing an additional 658,400 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new stake in shares of DT Midstream in the third quarter worth approximately $43,347,000. Holocene Advisors LP raised its stake in shares of DT Midstream by 117.7% in the third quarter. Holocene Advisors LP now owns 554,059 shares of the company's stock worth $62,642,000 after purchasing an additional 299,609 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of DT Midstream by 54.4% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 747,781 shares of the company's stock worth $84,544,000 after purchasing an additional 263,312 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DTM opened at $130.53 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $13.32 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 2.73 and a beta of 0.75. The stock has a 50 day moving average of $135.70 and a 200 day moving average of $123.83. DT Midstream, Inc. has a 12 month low of $94.15 and a 12 month high of $143.67.

DT Midstream (NYSE:DTM - Get Free Report) 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 net margin of 35.48% and a return on equity of 9.13%. The business had revenue of $317.00 million for the quarter, compared to analysts' expectations of $320.07 million. During the same period in the previous year, the business posted $0.94 earnings per share. As a group, sell-side analysts forecast 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 $0.88 dividend. This is an increase from DT Midstream's previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Monday, March 16th. DT Midstream's dividend payout ratio (DPR) is 81.67%.

Insider Transactions at DT Midstream

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 cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the transaction, the chief financial officer directly owned 89,583 shares of the company's stock, valued at $12,212,850.39. This represents a 0.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on DTM shares. Stifel Nicolaus set a $137.00 price target on DT Midstream and gave the company a "hold" rating in a research report on Monday, February 23rd. Morgan Stanley increased their price target on DT Midstream from $137.00 to $139.00 and gave the company an "underweight" rating in a research report on Tuesday, February 10th. Barclays increased their price target on DT Midstream from $119.00 to $141.00 and gave the company an "equal weight" rating in a research report on Thursday, March 5th. The Goldman Sachs Group increased their price target on DT Midstream from $111.00 to $127.00 and gave the company a "sell" rating in a research report on Monday. Finally, UBS Group increased their price target on DT Midstream from $128.00 to $152.00 and gave the company a "buy" rating in a research report on Friday, February 20th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $142.55.

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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