Neo Ivy Capital Management Invests $939,000 in DT Midstream, Inc. (NYSE:DTM)

Key Points

• Neo Ivy Capital Management invested approximately $939,000 in DT Midstream, acquiring 9,730 shares during the first quarter of the year.
• DT Midstream reported quarterly earnings of $1.06 per share, missing estimates by $0.01, and had a revenue of $288.81 million, exceeding analyst expectations.
• The company declared a quarterly dividend of $0.82 per share, resulting in an annualized yield of 3.28% and a dividend payout ratio of 89.37%.

Neo Ivy Capital Management acquired a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,730 shares of the company's stock, valued at approximately $939,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. American Century Companies Inc. grew its stake in shares of DT Midstream by 3.5% during the 4th quarter. American Century Companies Inc. now owns 48,837 shares of the company's stock worth $4,856,000 after purchasing an additional 1,666 shares during the period. Sei Investments Co. increased its stake in shares of DT Midstream by 0.6% in the 4th quarter. Sei Investments Co. now owns 66,539 shares of the company's stock valued at $6,616,000 after purchasing an additional 422 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of DT Midstream in the 4th quarter valued at about $2,011,000. LPL Financial LLC raised its holdings in DT Midstream by 23.9% in the 4th quarter. LPL Financial LLC now owns 81,602 shares of the company's stock worth $8,114,000 after purchasing an additional 15,733 shares during the period. Finally, Vanguard Group Inc. boosted its position in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after purchasing an additional 359,017 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DTM. Barclays upped their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Morgan Stanley set a $115.00 price target on shares of DT Midstream and gave the company an "underweight" rating in a research note on Tuesday, June 3rd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, DT Midstream has an average rating of "Hold" and an average price target of $109.27.

DT Midstream Price Performance

DTM traded up $0.15 during trading on Wednesday, reaching $100.88. The company's stock had a trading volume of 104,994 shares, compared to its average volume of 1,022,021. The company has a market cap of $10.25 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.80 and a beta of 0.78. The firm has a fifty day simple moving average of $104.58 and a two-hundred day simple moving average of $100.83. DT Midstream, Inc. has a 1 year low of $69.82 and a 1 year high of $114.50. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million for the quarter, compared to analysts' expectations of $285.48 million. DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. During the same quarter in the previous year, the business posted $0.99 EPS. As a group, analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.25%. DT Midstream's payout ratio is 89.37%.

About DT Midstream

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.