Clark Capital Management Group Inc. Has $8.09 Million Holdings in DT Midstream, Inc. $DTM

Clark Capital Management Group Inc. grew its holdings in DT Midstream, Inc. (NYSE:DTM) by 14.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,553 shares of the company’s stock after acquiring an additional 8,903 shares during the quarter. Clark Capital Management Group Inc.’s holdings in DT Midstream were worth $8,090,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of DTM. 59 North Capital Management LP bought a new position in DT Midstream during the second quarter worth $226,757,000. Norges Bank bought a new stake in DT Midstream in the 2nd quarter valued at $143,743,000. Merewether Investment Management LP grew its position in DT Midstream by 192.4% in the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock worth $113,128,000 after purchasing an additional 658,400 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of DT Midstream by 54.4% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 747,781 shares of the company’s stock worth $84,544,000 after purchasing an additional 263,312 shares during the period. Finally, Copeland Capital Management LLC bought a new position in shares of DT Midstream during the 3rd quarter worth about $29,237,000. Institutional investors own 81.53% of the company’s stock.

Insider Activity

In related news, CFO Jeffrey A. Jewell bought 185 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $136.33 per share, with a total value of $25,221.05. Following the acquisition, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This represents a 0.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $126.00 to $142.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Jefferies Financial Group set a $148.00 price target on DT Midstream and gave the company a “buy” rating in a research note on Friday, February 20th. 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 raised their price objective on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 10th. Finally, UBS Group lifted their price objective on DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.00.

DT Midstream Price Performance

NYSE:DTM opened at $137.58 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day moving average of $129.16 and a 200-day moving average of $118.80. DT Midstream, Inc. has a 52 week low of $83.30 and a 52 week high of $143.67. The company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 2.83 and a beta of 0.75.

DT Midstream (NYSE:DTM) last posted its 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 the consensus estimate of $320.07 million. During the same period in the previous year, the firm earned $0.94 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Monday, March 16th will be paid a $0.88 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.52 annualized dividend and a dividend yield of 2.6%. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s dividend payout ratio is currently 76.10%.

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.