DT Midstream, Inc. $DTM Stock Holdings Reduced by Barclays PLC

Key Points

• Barclays PLC trimmed its stake in DT Midstream by 3.7% in Q3, selling 11,077 shares and leaving 290,639 shares worth $32.86 million (about 0.29% of the company).
• DT Midstream raised its quarterly dividend to $0.88 from $0.82 (annualized $3.52, yield ~2.5%), with an ex-dividend date of March 16 and payment on April 15; the payout ratio is about 76.1%.
• Analysts carry a consensus “Hold” rating with a $139.64 average price target (6 Buy, 5 Hold, 1 Sell), and the company recently missed quarterly EPS at $1.08 versus $1.11 on $317 million in revenue.

Barclays PLC lowered its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 290,639 shares of the company's stock after selling 11,077 shares during the period. Barclays PLC owned 0.29% of DT Midstream worth $32,860,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Private Trust Co. NA lifted its position in DT Midstream by 23.6% during the 3rd quarter. Private Trust Co. NA now owns 535 shares of the company's stock worth $60,000 after acquiring an additional 102 shares during the last quarter. Cresset Asset Management LLC increased its stake in DT Midstream by 1.7% in the third quarter. Cresset Asset Management LLC now owns 6,408 shares of the company's stock valued at $730,000 after acquiring an additional 108 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after buying an additional 123 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in DT Midstream by 15.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 970 shares of the company's stock worth $107,000 after acquiring an additional 130 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in DT Midstream by 48.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 416 shares of the company's stock valued at $47,000 after purchasing an additional 136 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DTM has been the subject of several research analyst reports. Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the stock a "buy" rating in a research report on Friday, February 20th. Morgan Stanley boosted their target price on DT Midstream from $137.00 to $139.00 and gave the company an "underweight" rating in a research note on Tuesday, February 10th. Weiss Ratings reiterated a "buy (b)" rating on shares of DT Midstream in a research note on Wednesday, January 21st. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $126.00 to $142.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Finally, Wall Street Zen lowered shares of DT Midstream from a "hold" rating to a "sell" rating in a research report on Saturday. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, DT Midstream presently has an average rating of "Hold" and a consensus price target of $139.64.

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell bought 185 shares of the business's stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the transaction, the chief financial officer owned 89,583 shares of the company's stock, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by insiders.

DT Midstream Price Performance

DTM stock opened at $139.47 on Wednesday. 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 $83.30 and a 1 year high of $143.67. The company's 50-day moving average is $128.13 and its 200-day moving average is $118.04. The stock has a market capitalization of $14.19 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter last year, the business posted $0.94 earnings per share. Equities research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid 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 2.5%. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream's payout ratio is 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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