Quantbot Technologies LP Acquires New Holdings in DT Midstream, Inc. $DTM

by · The Cerbat Gem

Quantbot Technologies LP bought a new position in DT Midstream, Inc. (NYSE:DTM – Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,097 shares of the company’s stock, valued at approximately $1,933,000.

Several other hedge funds also recently modified their holdings of DTM. Mather Group LLC. bought a new position in shares of DT Midstream during the 3rd quarter valued at $30,000. Centerpoint Advisors LLC raised its holdings 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 buying an additional 179 shares in the last quarter. First Horizon Corp bought a new position in DT Midstream during the third quarter valued at about $32,000. Root Financial Partners LLC acquired a new stake in shares of DT Midstream in the third quarter worth about $33,000. Finally, Westside Investment Management Inc. lifted its position in shares of DT Midstream by 100.0% in the third quarter. Westside Investment Management Inc. now owns 290 shares of the company’s stock worth $33,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $142.26 on Thursday. The firm has a market capitalization of $14.47 billion, a PE ratio of 33.01, a PEG ratio of 2.50 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 1-year low of $83.30 and a 1-year high of $142.85. The business’s 50 day moving average is $126.53 and its 200-day moving average is $116.85.

DT Midstream (NYSE:DTM – Get Free Report) last issued its 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 return on equity of 9.13% and a net margin of 35.48%.The firm had revenue of $317.00 million during the quarter, compared to the consensus estimate of $320.07 million. During the same period last year, the business earned $0.94 earnings per share. Sell-side analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The firm also recently announced 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 an increase from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 16th. This represents a $3.52 annualized dividend and a dividend yield of 2.5%. DT Midstream’s dividend payout ratio (DPR) is presently 76.10%.

Analyst Ratings Changes

A number of research analysts have recently commented on DTM shares. Stifel Nicolaus set a $137.00 price objective on DT Midstream and gave the company a “hold” rating in a report on Monday, February 23rd. UBS Group upped their target price on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Morgan Stanley lifted their price target on shares of DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research report on Tuesday, February 10th. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, DT Midstream has an average rating of “Hold” and an average target price of $136.18.

Read Our Latest Stock Report on DTM

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 185 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was purchased at an average price of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the purchase, the chief financial officer directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

DT Midstream Company Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding DTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DT Midstream, Inc. (NYSE:DTM – Free Report).