DT Midstream, Inc. $DTM Stake Boosted by Holocene Advisors LP

Key Points

• Holocene Advisors LP boosted its stake in DT Midstream by 117.7% to 554,059 shares (about $62.6M), and institutional investors now own roughly 81.53% of the company.
• Several analysts have raised price targets — including Citigroup to $156 — but the consensus rating remains Hold with a $141 target price.
• DT Midstream raised its quarterly dividend to $0.88 ($3.52 annual, 2.6% yield) despite a recent quarter where EPS of $1.08 missed estimates of $1.11.

Holocene Advisors LP increased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 117.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 554,059 shares of the company's stock after acquiring an additional 299,609 shares during the period. Holocene Advisors LP owned about 0.54% of DT Midstream worth $62,642,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in DT Midstream by 1.6% in the second quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company's stock valued at $1,247,674,000 after purchasing an additional 176,813 shares in the last quarter. 59 North Capital Management LP increased its position in DT Midstream by 49.0% in the 3rd 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. Dimensional Fund Advisors LP raised its stake in shares of DT Midstream by 3.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company's stock worth $301,695,000 after purchasing an additional 99,602 shares in the last quarter. Invesco Ltd. raised its stake in shares of DT Midstream by 15.4% during the 2nd quarter. Invesco Ltd. now owns 1,664,052 shares of the company's stock worth $182,896,000 after purchasing an additional 222,586 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of DT Midstream during the 2nd quarter valued at about $143,743,000. Institutional investors and hedge funds own 81.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup increased their price objective on DT Midstream from $130.00 to $156.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Bank of America lifted their target price on shares of DT Midstream from $118.00 to $132.00 and gave the company a "buy" rating in a research note on Thursday, December 11th. Wall Street Zen raised shares of DT Midstream from a "sell" rating to a "hold" rating in a research report on Sunday. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $126.00 to $142.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Finally, Barclays lifted their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the company an "equal weight" rating in a research note on Thursday, March 5th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $141.00.

Insider Transactions at DT Midstream

In other news, CFO Jeffrey A. Jewell bought 185 shares of the company's stock in a transaction that occurred on Wednesday, February 25th. The shares were purchased at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

DT Midstream Stock Down 0.4%

DTM opened at $137.09 on Tuesday. The firm has a market cap of $13.95 billion, a P/E ratio of 31.81, a price-to-earnings-growth ratio of 2.83 and a beta of 0.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The business has a 50 day moving average price of $129.50 and a 200 day moving average price of $119.03. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $143.67.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $320.07 million. During the same quarter last year, the business earned $0.94 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.52 annualized dividend 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 76.10%.

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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