DT Midstream, Inc. $DTM Stock Holdings Lifted by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. increased its holdings in DT Midstream, Inc. (NYSE:DTM) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 568,445 shares of the company’s stock after buying an additional 14,127 shares during the period. Bahl & Gaynor Inc.’s holdings in DT Midstream were worth $64,268,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Miller Howard Investments Inc. NY boosted its stake in DT Midstream by 24.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock valued at $23,789,000 after purchasing an additional 41,929 shares during the period. Principal Financial Group Inc. raised its holdings in shares of DT Midstream by 76.7% during the third quarter. Principal Financial Group Inc. now owns 500,329 shares of the company’s stock valued at $56,568,000 after buying an additional 217,185 shares during the last quarter. Clean Energy Transition LLP raised its holdings in shares of DT Midstream by 84.7% during the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock valued at $35,695,000 after buying an additional 148,911 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of DT Midstream by 7.8% during the third quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company’s stock worth $98,538,000 after buying an additional 63,438 shares during the period. Finally, First American Bank bought a new position in DT Midstream in the 3rd quarter worth approximately $1,373,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

NYSE:DTM opened at $138.72 on Monday. 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 business’s 50-day moving average price is $125.26 and its 200 day moving average price is $116.14. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $139.96. The firm has a market cap of $14.11 billion, a P/E ratio of 32.19, a PEG ratio of 2.47 and a beta of 0.75.

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 business had revenue of $317.00 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.94 EPS. As a group, sell-side analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors 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 is a positive change from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. DT Midstream’s payout ratio is 76.10%.

Analysts Set New Price Targets

Several research firms recently commented on DTM. Mizuho raised their target price on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Stifel Nicolaus set a $137.00 price target on DT Midstream and gave the company a “hold” rating in a report on Monday, February 23rd. Morgan Stanley lifted their price objective on shares of DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, February 10th. Barclays increased 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. Finally, Bank of America boosted their price target on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, DT Midstream has an average rating of “Hold” and an average target price of $136.18.

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell purchased 185 shares of the company’s stock in a transaction on 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 completion of the acquisition, the chief financial officer owned 89,583 shares of the company’s stock, valued at approximately $12,212,850.39. This represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

DT Midstream 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.