Nordea Investment Management AB Acquires Shares of 11,464 DT Midstream, Inc. $DTM

Nordea Investment Management AB bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,464 shares of the company’s stock, valued at approximately $1,371,000.

Several other hedge funds have also made changes to their positions in the business. 59 North Capital Management LP acquired a new position in DT Midstream in the 2nd quarter valued at about $226,757,000. Norges Bank purchased a new stake in DT Midstream during the 2nd quarter valued at approximately $143,743,000. Merewether Investment Management LP lifted its position in DT Midstream by 192.4% during the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock worth $113,128,000 after acquiring an additional 658,400 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in DT Midstream during the 3rd quarter worth approximately $43,347,000. Finally, Holocene Advisors LP grew its stake in shares of DT Midstream by 117.7% in the 3rd quarter. Holocene Advisors LP now owns 554,059 shares of the company’s stock valued at $62,642,000 after purchasing an additional 299,609 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $135.21 on Friday. The company has a market cap of $13.75 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 2.80 and a beta of 0.75. The stock has a 50 day simple moving average of $132.67 and a 200-day simple moving average of $120.90. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $143.67. 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 (NYSE:DTM) last posted its quarterly earnings results on Thursday, February 19th. The company reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the firm earned $0.94 earnings per share. On average, equities analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s dividend payout ratio is 81.67%.

Insider Activity at DT Midstream

In related news, CFO Jeffrey A. Jewell bought 185 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the transaction, the chief financial officer owned 89,583 shares of the company’s stock, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DTM shares. Morgan Stanley boosted their target price on DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a report on Tuesday, February 10th. JPMorgan Chase & Co. boosted their price objective on shares of DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Jefferies Financial Group set a $148.00 price objective on shares of DT Midstream and gave the stock a “buy” rating in a research report on Friday, February 20th. Finally, UBS Group raised their target price on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Six equities research 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.10.

DT Midstream Company 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.