Miller Howard Investments Inc. NY Increases Stock Position in DT Midstream, Inc. $DTM

Key Points

• Miller Howard Investments increased its stake in DT Midstream by 3.9%, buying 8,128 shares to hold 218,539 shares worth about $26.16 million (≈0.21% of the company).
• DT Midstream raised its quarterly dividend to $0.88 (annualized $3.52), implying a 2.6% yield and a payout ratio of 81.67%.
• The company slightly missed quarterly estimates (EPS $1.08 vs. $1.11; revenue $317M vs. $320.07M), and analysts are mixed—consensus rating "Hold" with a $144.10 target price.

Miller Howard Investments Inc. NY raised its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 218,539 shares of the company's stock after purchasing an additional 8,128 shares during the period. Miller Howard Investments Inc. NY owned 0.21% of DT Midstream worth $26,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. lifted its position in shares of DT Midstream by 62.7% in the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company's stock worth $29,000 after buying an additional 94 shares in the last quarter. Pathstone Holdings LLC grew its holdings in DT Midstream by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 28,322 shares of the company's stock valued at $3,215,000 after buying an additional 97 shares in the last quarter. Private Trust Co. NA increased its stake in DT Midstream by 23.6% in 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 3rd quarter. Cresset Asset Management LLC now owns 6,408 shares of the company's stock worth $730,000 after acquiring an additional 108 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of DT Midstream by 6.3% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,997 shares of the company's stock worth $226,000 after acquiring an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $134.26 on Monday. The stock has a market cap of $13.70 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 2.78 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 stock has a 50 day moving average price of $135.68 and a 200-day moving average price of $123.59. DT Midstream, Inc. has a one year low of $91.33 and a one year high of $143.67.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly 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). The company had revenue of $317.00 million for the quarter, compared to analysts' expectations 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 in the previous year, the company posted $0.94 EPS. Equities analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th were paid a $0.88 dividend. This is an increase from DT Midstream's previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, March 16th. DT Midstream's payout ratio is currently 81.67%.

Insider Buying and Selling at DT Midstream

In other news, CFO Jeffrey A. Jewell bought 185 shares of the stock in a transaction dated Wednesday, February 25th. The stock was 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 owned 89,583 shares of the company's stock, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Citigroup increased 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. Mizuho boosted their price target on shares of DT Midstream from $108.00 to $129.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 17th. Wells Fargo & Company increased their price objective 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. UBS Group lifted their price objective on shares of DT Midstream from $128.00 to $152.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Finally, Stifel Nicolaus set a $137.00 target price on shares of DT Midstream and gave the stock a "hold" rating in a report on Monday, February 23rd. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, DT Midstream presently has an average rating of "Hold" and a consensus target price of $144.10.

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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