DT Midstream, Inc. $DTM Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its position in DT Midstream by 13.1%, selling 97,704 shares and leaving it with 650,077 shares (about 0.64% of the company) valued at roughly $77.8 million.
• Several research firms have raised price targets, but the stock carries a consensus rating of Hold with a consensus target price of $144.91.
• DT Midstream increased its quarterly dividend to $0.88 (annualized $3.52, yield 2.6%) and reported quarterly EPS of $1.08, missing estimates by $0.03.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 650,077 shares of the company's stock after selling 97,704 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.64% of DT Midstream worth $77,801,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTM. Nordea Investment Management AB purchased a new position in shares of DT Midstream during the fourth quarter worth approximately $1,371,000. JPMorgan Chase & Co. increased its holdings in shares of DT Midstream by 7.8% in 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. Miller Howard Investments Inc. NY raised its position in DT Midstream by 24.9% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company's stock valued at $23,789,000 after purchasing an additional 41,929 shares during the last quarter. Principal Financial Group Inc. raised its position in DT Midstream by 76.7% in the 3rd quarter. Principal Financial Group Inc. now owns 500,329 shares of the company's stock valued at $56,568,000 after purchasing an additional 217,185 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in DT Midstream by 2.5% during the 3rd quarter. Bahl & Gaynor Inc. now owns 568,445 shares of the company's stock worth $64,268,000 after purchasing an additional 14,127 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DTM. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $126.00 to $142.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Citigroup increased their target price on shares of DT Midstream from $130.00 to $156.00 and gave the stock a "buy" rating in a research note on Tuesday, February 24th. Barclays raised their price target on DT Midstream from $119.00 to $141.00 and gave the stock an "equal weight" rating in a report on Thursday, March 5th. 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, April 22nd. Finally, Mizuho increased their price objective on DT Midstream from $108.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $144.91.

DT Midstream Stock Up 0.3%

Shares of NYSE DTM opened at $135.00 on Tuesday. The stock has a market capitalization of $13.77 billion, a price-to-earnings ratio of 31.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.75. DT Midstream, Inc. has a 52 week low of $94.15 and a 52 week high of $143.67. The firm has a 50-day moving average price of $135.81 and a 200 day moving average price of $124.40. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The company had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. Equities research analysts anticipate that DT Midstream, Inc. will post 4.63 EPS for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 16th were issued a $0.88 dividend. The ex-dividend date was Monday, March 16th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. This is an increase 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 acquired 185 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average cost of $136.33 per share, with a total value of $25,221.05. Following 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 position. The acquisition was disclosed in a document filed with the SEC, which is available through 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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