Inceptionr LLC Has $1.30 Million Holdings in DT Midstream, Inc. $DTM

Key Points

• Inceptionr LLC boosted its stake in DT Midstream by 187.2% in Q3, acquiring an additional 7,512 shares to hold 11,525 shares valued at about $1.303 million.
• Several analysts have raised price targets recently (e.g., Citi to $156, Barclays to $141, JPMorgan to $142), but the stock's consensus rating remains a Hold with a consensus price target of $139.64.
• DT Midstream raised its quarterly dividend to $0.88 (annualized $3.52) for a yield of 2.5%, up from $0.82, with an ex-dividend date of March 16 and payment on April 15.

Inceptionr LLC grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 187.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,525 shares of the company's stock after buying an additional 7,512 shares during the period. Inceptionr LLC's holdings in DT Midstream were worth $1,303,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Mather Group LLC. bought a new position in DT Midstream during the third quarter worth $30,000. Centerpoint Advisors LLC grew its holdings in DT Midstream by 198.9% in the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company's stock worth $30,000 after purchasing an additional 179 shares during the period. First Horizon Corp bought a new stake in DT Midstream in the third quarter valued at $32,000. Cary Street Partners Investment Advisory LLC bought a new stake in DT Midstream in the second quarter valued at $33,000. Finally, Root Financial Partners LLC acquired a new position in shares of DT Midstream during the third quarter valued at about $33,000. Institutional investors and hedge funds own 81.53% of the company's stock.

Analyst Ratings Changes

DTM has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of DT Midstream from $119.00 to $141.00 and gave the stock an "equal weight" rating in a research report on Thursday. Citigroup boosted their target price on DT Midstream from $130.00 to $156.00 and gave the company a "buy" rating in a research report on Tuesday, February 24th. JPMorgan Chase & Co. increased their price target on DT Midstream from $126.00 to $142.00 and gave the stock a "neutral" rating in a report on Thursday. Morgan Stanley raised their price objective on DT Midstream from $137.00 to $139.00 and gave the company an "underweight" rating in a research note on Tuesday, February 10th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of DT Midstream in a report on Wednesday, January 21st. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $139.64.

DT Midstream Stock Down 0.1%

Shares of NYSE DTM opened at $141.67 on Monday. The stock has a market capitalization of $14.41 billion, a P/E ratio of 32.87, a P/E/G ratio of 2.89 and a beta of 0.75. The company has a 50-day moving average price of $127.37 and a 200-day moving average price of $117.51. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $143.15. 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 (NYSE:DTM - Get Free Report) last posted its 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 return on equity of 9.13% and a net margin of 35.48%.The business had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. During the same period in the previous year, the firm earned $0.94 earnings per share. On average, equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 2.5%. This is an increase from DT Midstream's previous quarterly dividend of $0.82. DT Midstream's dividend payout ratio is presently 81.67%.

Insider Buying and Selling

In related news, CFO Jeffrey A. Jewell acquired 185 shares of the stock in a transaction dated 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 completion of the purchase, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This trade represents a 0.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company's stock.

About DT Midstream

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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