Holocene Advisors LP Acquires 299,609 Shares of DT Midstream, Inc. $DTM

Holocene Advisors LP increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 117.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 554,059 shares of the company’s stock after purchasing an additional 299,609 shares during the period. Holocene Advisors LP’s holdings in DT Midstream were worth $62,642,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in DT Midstream in the 3rd quarter worth approximately $30,000. Centerpoint Advisors LLC lifted its holdings 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 buying an additional 179 shares during the last quarter. First Horizon Corp bought a new stake in shares of DT Midstream in the third quarter valued at approximately $32,000. Root Financial Partners LLC bought a new stake in shares of DT Midstream in the third quarter valued at approximately $33,000. Finally, Westside Investment Management Inc. grew its stake 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 acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Transactions at DT Midstream

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

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of research reports. UBS Group boosted their target price on shares of DT Midstream from $128.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. Mizuho raised their price target on shares of DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Wells Fargo & Company upped their price objective on shares of DT Midstream from $150.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Morgan Stanley lifted their target price on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 10th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average price target of $141.00.

DT Midstream Stock Down 0.4%

DTM opened at $137.09 on Tuesday. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $143.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s fifty day moving average price is $129.50 and its two-hundred day moving average price is $119.03. The company has a market capitalization of $13.95 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.83 and a beta of 0.75.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) 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 business 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 firm earned $0.94 EPS. On average, analysts anticipate 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. Investors of record on Monday, March 16th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a yield of 2.6%. DT Midstream’s payout ratio is presently 76.10%.

DT Midstream 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.