AXQ Capital LP Has $287,000 Stock Position in DT Midstream, Inc. $DTM

AXQ Capital LP reduced its holdings in DT Midstream, Inc. (NYSE:DTM) by 69.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,538 shares of the company’s stock after selling 5,828 shares during the period. AXQ Capital LP’s holdings in DT Midstream were worth $287,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Mather Group LLC. acquired a new position in shares of DT Midstream in the 3rd quarter valued at $30,000. Centerpoint Advisors LLC lifted its stake in DT Midstream by 198.9% in the 3rd quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock valued at $30,000 after acquiring an additional 179 shares in the last quarter. First Horizon Corp acquired a new position in DT Midstream during the third quarter worth $32,000. Root Financial Partners LLC acquired a new stake in shares of DT Midstream in the third quarter valued at about $33,000. Finally, Westside Investment Management Inc. increased its position in shares of DT Midstream by 100.0% during 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 last quarter. 81.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Jeffrey A. Jewell acquired 185 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were bought at an average price of $136.33 per share, with a total value of $25,221.05. Following the transaction, the chief financial officer directly owned 89,583 shares of the company’s stock, valued at $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DTM shares. 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 report on Wednesday, January 14th. Bank of America lifted their price objective on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. JPMorgan Chase & Co. increased their target price on DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Finally, Mizuho increased their target price on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average price target of $136.18.

DT Midstream Price Performance

Shares of DTM opened at $138.43 on Friday. The company has a market capitalization of $14.08 billion, a price-to-earnings ratio of 32.12, a price-to-earnings-growth ratio of 2.44 and a beta of 0.77. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $139.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50-day moving average of $124.85 and a 200-day moving average of $115.73.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data 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 firm had revenue of $317.00 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.94 earnings per share. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be given a dividend of $0.88 per share. This is a positive change from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. DT Midstream’s payout ratio is 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.