DT Midstream, Inc. $DTM Shares Purchased by M&T Bank Corp

Key Points

• M&T Bank Corp increased its position in DT Midstream by 212.1% in the 4th quarter, adding 16,324 shares to hold 24,019 shares worth about $2.88 million.
• DT Midstream raised its quarterly dividend to $0.88 (annualized $3.52) for a yield of 2.6%, with a payout ratio of 81.67%.
• The company slightly missed quarterly expectations with EPS of $1.08 versus $1.11 expected and revenue of $317.0M, and Wall Street has a consensus rating of Hold with an average price target of $144.91.

M&T Bank Corp increased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 212.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,019 shares of the company's stock after acquiring an additional 16,324 shares during the quarter. M&T Bank Corp's holdings in DT Midstream were worth $2,875,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB acquired a new position in shares of DT Midstream during the 4th quarter valued at about $1,371,000. JPMorgan Chase & Co. boosted its position in shares of 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 last quarter. Miller Howard Investments Inc. NY boosted its position in shares of DT Midstream by 24.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company's stock valued at $23,789,000 after acquiring an additional 41,929 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of DT Midstream by 76.7% during the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company's stock valued at $56,568,000 after acquiring an additional 217,185 shares during the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in DT Midstream by 2.5% in the third quarter. Bahl & Gaynor Inc. now owns 568,445 shares of the company's stock valued at $64,268,000 after buying an additional 14,127 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Up 0.3%

Shares of NYSE:DTM opened at $135.00 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $13.77 billion, a PE ratio of 31.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.75. The firm's 50-day moving average is $135.81 and its two-hundred day moving average is $124.40. DT Midstream, Inc. has a 1 year low of $94.15 and a 1 year 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.11 by ($0.03). The business had revenue of $317.00 million for the quarter, compared to analysts' expectations of $320.07 million. DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.During the same quarter last year, the company earned $0.94 earnings per share. Analysts predict that DT Midstream, Inc. will post 4.63 EPS for the current year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th were paid a dividend of $0.88 per share. 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. The ex-dividend date was Monday, March 16th. DT Midstream's payout ratio is currently 81.67%.

Insider Transactions at DT Midstream

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Morgan Stanley raised shares of DT Midstream from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $139.00 to $165.00 in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their target price on shares of DT Midstream from $150.00 to $165.00 and gave the company an "overweight" rating in a research report on Friday, March 13th. Mizuho upped their target price on shares of DT Midstream from $108.00 to $129.00 and gave the company a "neutral" rating in a research report on Tuesday, February 17th. Wall Street Zen cut shares of DT Midstream from a "hold" rating to a "sell" rating in a research report on Saturday, March 28th. Finally, Citigroup upped their target price on shares of DT Midstream from $130.00 to $156.00 and gave the company a "buy" rating in a research report on Tuesday, February 24th. Six research 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 data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $144.91.

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.

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