Miller Howard Investments Inc. NY Increases Position in DT Midstream, Inc. $DTM

Miller Howard Investments Inc. NY grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 218,539 shares of the company’s stock after buying an additional 8,128 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in DT Midstream were worth $26,155,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DTM. V Square Quantitative Management LLC purchased a new position in DT Midstream during the 4th quarter valued at $28,000. Richardson Financial Services Inc. increased its stake in DT Midstream by 62.7% in the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock worth $29,000 after purchasing an additional 94 shares during the period. Mather Group LLC. bought a new stake in shares of DT Midstream during the third quarter worth $30,000. Centerpoint Advisors LLC lifted its position in shares of DT Midstream by 198.9% during the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after purchasing an additional 179 shares during the last quarter. Finally, First Horizon Corp purchased a new stake in shares of DT Midstream during the third quarter valued at $32,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

DTM opened at $134.26 on Monday. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.78 and a beta of 0.75. 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 $91.33 and a 12-month high of $143.67. The business’s fifty day simple moving average is $135.68 and its 200-day simple moving average is $123.59.

DT Midstream (NYSE:DTM) last released 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). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The firm had revenue of $317.00 million during the quarter, compared to the consensus estimate of $320.07 million. During the same quarter in the previous year, the firm earned $0.94 earnings per share. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, March 16th. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio is currently 81.67%.

Analyst Ratings Changes

A number of research analysts have recently commented on DTM shares. Mizuho upped their price target 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. Citigroup lifted their price objective on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Stifel Nicolaus set a $137.00 target price on shares of DT Midstream and gave the stock a “hold” rating in a research note on Monday, February 23rd. Wall Street Zen lowered shares of DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. Finally, Wells Fargo & Company lifted their price target on shares of DT Midstream from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $144.10.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell acquired 185 shares of the company’s stock in a transaction dated 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 purchase, the chief financial officer owned 89,583 shares in the company, valued at approximately $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 this link. Insiders own 0.54% of the company’s stock.

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.