Nordea Investment Management AB Makes New Investment in DT Midstream, Inc. $DTM

Nordea Investment Management AB bought a new stake in DT Midstream, Inc. (NYSE:DTM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,464 shares of the company’s stock, valued at approximately $1,371,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pathstone Holdings LLC boosted its stake in shares of DT Midstream by 0.3% during the 3rd quarter. Pathstone Holdings LLC now owns 28,322 shares of the company’s stock worth $3,215,000 after acquiring an additional 97 shares in the last quarter. Private Trust Co. NA increased its stake in DT Midstream by 23.6% in the 3rd quarter. Private Trust Co. NA now owns 535 shares of the company’s stock valued at $60,000 after purchasing an additional 102 shares in the last quarter. Cresset Asset Management LLC raised its holdings in DT Midstream by 1.7% during the third quarter. Cresset Asset Management LLC now owns 6,408 shares of the company’s stock worth $730,000 after purchasing an additional 108 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its holdings in DT Midstream by 6.3% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 1,997 shares of the company’s stock worth $226,000 after purchasing an additional 119 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its position in DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after purchasing an additional 123 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DT Midstream

In other news, CFO Jeffrey A. Jewell purchased 185 shares of the stock in a transaction dated Wednesday, February 25th. The stock was acquired at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the acquisition, the chief financial officer directly owned 89,583 shares in the company, valued at $12,212,850.39. This represents a 0.21% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on DTM shares. Wall Street Zen cut DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday. UBS Group increased their price objective on shares of DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Barclays raised their target price on shares of DT Midstream from $119.00 to $141.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Finally, Citigroup upped their price target on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Six 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $144.10.

DT Midstream Stock Down 1.4%

Shares of NYSE:DTM opened at $135.21 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $143.67. The stock’s fifty day simple moving average is $132.67 and its 200-day simple moving average is $120.90. The company has a market capitalization of $13.75 billion, a P/E ratio of 31.37, a P/E/G ratio of 2.80 and a beta of 0.75.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The company had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same period in the previous year, the business earned $0.94 EPS. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend 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 81.67%.

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.