Russell Investments Group Ltd. Grows Position in DT Midstream, Inc. $DTM

Russell Investments Group Ltd. raised its stake in DT Midstream, Inc. (NYSE:DTM) by 34.7% in the third quarter, HoldingsChannel.com reports. The fund owned 469,405 shares of the company’s stock after purchasing an additional 120,951 shares during the quarter. Russell Investments Group Ltd.’s holdings in DT Midstream were worth $53,071,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mather Group LLC. purchased a new position in DT Midstream in the 3rd quarter valued at about $30,000. Centerpoint Advisors LLC raised its position in shares of DT Midstream by 198.9% in 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 during the last quarter. First Horizon Corp acquired a new position in shares of DT Midstream in the third quarter valued at approximately $32,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of DT Midstream during the second quarter valued at approximately $33,000. Finally, Root Financial Partners LLC acquired a new stake in DT Midstream during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

DT Midstream stock opened at $139.47 on Wednesday. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.75. DT Midstream, Inc. has a 12 month low of $83.30 and a 12 month 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 stock’s 50-day moving average is $128.13 and its 200-day moving average is $118.04.

DT Midstream (NYSE:DTM) last posted its quarterly 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). The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter in the previous year, the business posted $0.94 EPS. Equities analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be issued a $0.88 dividend. The ex-dividend date is Monday, March 16th. This represents a $3.52 annualized dividend and a yield of 2.5%. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. DT Midstream’s payout ratio is currently 76.10%.

Insider Transactions at DT Midstream

In related news, CFO Jeffrey A. Jewell acquired 185 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average cost 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 $12,212,850.39. This trade represents a 0.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. 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. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Wall Street Zen lowered DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday. UBS Group increased 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. Finally, Barclays raised their price target on DT Midstream from $119.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 5th. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, DT Midstream currently has an average rating of “Hold” and a consensus price target of $139.64.

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.