SG Americas Securities LLC Acquires 36,722 Shares of DT Midstream, Inc. $DTM

Key Points

• SG Americas Securities LLC boosted its stake in DT Midstream by 139.8%, buying 36,722 shares to own 62,986 shares worth about $7.54 million; institutional investors now hold roughly 81.5% of the stock.
• DT Midstream raised its quarterly dividend to $0.88 (annualized $3.52), representing a ~2.6% yield and a payout ratio of 81.67%; the dividend is payable April 15 with an ex-dividend/record date of March 16.
• The company missed Q4 estimates with EPS of $1.08 versus $1.11 expected and revenue of $317M vs. $320.07M, while analyst coverage averages a "Hold" rating and a $144.10 price target amid several broker upgrades.

SG Americas Securities LLC raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 139.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,986 shares of the company's stock after buying an additional 36,722 shares during the quarter. SG Americas Securities LLC owned about 0.06% of DT Midstream worth $7,538,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of DTM. 59 North Capital Management LP bought a new position in DT Midstream during the second quarter worth $226,757,000. Norges Bank bought a new stake in DT Midstream in the 2nd quarter valued at $143,743,000. Merewether Investment Management LP grew its position in DT Midstream by 192.4% in the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company's stock worth $113,128,000 after purchasing an additional 658,400 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in DT Midstream in the 3rd quarter worth $43,347,000. Finally, Holocene Advisors LP increased its holdings in shares of DT Midstream by 117.7% during the 3rd quarter. Holocene Advisors LP now owns 554,059 shares of the company's stock worth $62,642,000 after purchasing an additional 299,609 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Performance

NYSE DTM opened at $134.63 on Tuesday. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $143.67. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The stock has a market cap of $13.73 billion, a P/E ratio of 31.24, a PEG ratio of 2.80 and a beta of 0.75. The company's 50-day simple moving average is $132.95 and its 200 day simple moving average is $121.19.

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 analysts' consensus estimates of $1.11 by ($0.03). The business had revenue of $317.00 million for the quarter, compared to the consensus estimate of $320.07 million. DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.During the same quarter in the prior year, the business earned $0.94 EPS. As a group, research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.52 annualized dividend and a yield of 2.6%. This is a positive change from DT Midstream's previous quarterly dividend of $0.82. DT Midstream's payout ratio is presently 81.67%.

Insider Buying and Selling

In related news, CFO Jeffrey A. Jewell purchased 185 shares of the stock in a transaction on Wednesday, February 25th. The shares were purchased 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 directly 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DTM. Weiss Ratings reaffirmed a "buy (b)" rating on shares of DT Midstream in a research report on Wednesday, January 21st. UBS Group lifted their target price on DT Midstream from $128.00 to $152.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Bank of America upped their price target on DT Midstream from $118.00 to $132.00 and gave the company a "buy" rating in a report on Thursday, December 11th. Stifel Nicolaus set a $137.00 price objective on DT Midstream and gave the stock a "hold" rating in a research report on Monday, February 23rd. Finally, Wells Fargo & Company lifted their price objective on DT Midstream from $150.00 to $165.00 and gave the stock an "overweight" rating in a report on Friday, March 13th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $144.10.

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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