JPMorgan Chase & Co. Raises Stock Position in DT Midstream, Inc. $DTM

JPMorgan Chase & Co. boosted its position in DT Midstream, Inc. (NYSE:DTM) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 871,636 shares of the company’s stock after purchasing an additional 63,438 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.86% of DT Midstream worth $98,538,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Mather Group LLC. bought a new position in DT Midstream during the 3rd quarter valued at about $30,000. Centerpoint Advisors LLC lifted its position in DT Midstream by 198.9% during the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock valued at $30,000 after purchasing an additional 179 shares during the period. First Horizon Corp purchased a new stake in DT Midstream in the third quarter worth approximately $32,000. Root Financial Partners LLC purchased a new stake in DT Midstream in the third quarter worth approximately $33,000. Finally, Westside Investment Management Inc. grew its position in DT Midstream by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 290 shares of the company’s stock worth $33,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on DTM shares. UBS Group lifted their target price on DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a research report on Friday. Mizuho boosted their target price on DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Barclays upped their target price on shares of DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Jefferies Financial Group set a $148.00 target price on DT Midstream and gave the company a “buy” rating in a research report on Friday. Finally, Bank of America raised their price target on DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $133.82.

DT Midstream Trading Up 1.4%

Shares of DT Midstream stock opened at $137.93 on Tuesday. The firm has a market capitalization of $14.03 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 2.43 and a beta of 0.77. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $138.31. The firm’s 50 day simple moving average is $123.69 and its two-hundred day simple moving average is $115.19.

DT Midstream (NYSE:DTM) last posted its quarterly 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 net margin of 35.48% and a return on equity of 9.13%. The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. During the same period in the previous year, the company posted $0.94 earnings per share. Analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.88 per share. The ex-dividend date is Monday, March 16th. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s payout ratio is presently 76.10%.

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.