Miller Howard Investments Inc. NY Purchases 41,929 Shares of DT Midstream, Inc. $DTM

Miller Howard Investments Inc. NY grew its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 24.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 210,411 shares of the company’s stock after acquiring an additional 41,929 shares during the period. Miller Howard Investments Inc. NY owned 0.21% of DT Midstream worth $23,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 59 North Capital Management LP acquired a new stake in DT Midstream during the second quarter worth approximately $226,757,000. Norges Bank bought a new position in shares of DT Midstream during the 2nd quarter worth approximately $143,743,000. Merewether Investment Management LP grew its position in shares of DT Midstream by 810.1% during the 2nd quarter. Merewether Investment Management LP now owns 342,200 shares of the company’s stock worth $37,611,000 after buying an additional 304,600 shares during the period. Copeland Capital Management LLC bought a new stake in shares of DT Midstream in the 3rd quarter valued at $29,237,000. Finally, Energy Income Partners LLC increased its stake in shares of DT Midstream by 29.6% in the 2nd quarter. Energy Income Partners LLC now owns 1,006,222 shares of the company’s stock valued at $110,594,000 after acquiring an additional 229,635 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DTM shares. Morgan Stanley raised their price target on shares of DT Midstream from $126.00 to $137.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Jefferies Financial Group assumed coverage on DT Midstream in a research note on Monday, November 3rd. They issued a “buy” rating and a $125.00 target price for the company. Bank of America boosted their target price on DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Barclays upped their price target on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Finally, Citigroup upped their target price on DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Eight investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.25.

DT Midstream Stock Performance

Shares of DTM stock opened at $118.41 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a 50-day moving average of $117.90 and a 200-day moving average of $110.24. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $122.70. The company has a market cap of $12.04 billion, a P/E ratio of 29.90, a P/E/G ratio of 2.09 and a beta of 0.76.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. The business had revenue of $314.00 million during the quarter, compared to the consensus estimate of $309.21 million. During the same period in the prior year, the firm posted $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, December 15th. DT Midstream’s dividend payout ratio (DPR) is 82.83%.

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.