In a stunning display of confidence, LSV Asset Management has announced a significant increase in its holdings of DT Midstream, Inc. (NYSE:DTM), raising it by a staggering 69.3% during the first quarter of this year. According to their most recent disclosure with the Securities & Exchange Commission, LSV now owns 217,261 shares of DT Midstream’s stock, after acquiring an additional 88,951 shares in the last three months alone. This move demonstrates LSV’s unwavering belief in the potential and future success of DT Midstream.
The rise in ownership by LSV Asset Management translates into a substantial value, with their holdings worth approximately $10,726,000 as indicated in their SEC filing. This signifies that LSV now has a significant stake in DT Midstream and possesses approximately 0.22% ownership of the company. With such an impressive investment, expectations are high for the future performance of DT Midstream.
However, despite this remarkable vote of confidence from one major investor, analysts have expressed mixed views on DT Midstream’s prospects. One such analyst report from Morgan Stanley indicates a decrease in their price objective for DT Midstream from $60.00 to $58.00 and assigns an “underweight” rating to the company. Similarly, Barclays has lowered its price objective for DT Midstream from $64.00 to $57.00.
On the other hand, Raymond James initiated coverage on DT Midstream and provided an “outperform” rating for the company back in April this year. Furthermore, JPMorgan Chase & Co., another prominent financial institution, decreased their price target slightly to $59.00 but maintained a buy rating on the stock.
According to Bloomberg.com data cited within these analyst reports and ratings mentioned above; so far there exists one sell rating tied to this stock along with three hold ratings and three buy ratings as well; resulting in a current average rating of “Hold” for DT Midstream. Additionally, the consensus target price for shares of DT Midstream stands at approximately $56.83.
As of Friday’s trading session, DT Midstream (NYSE:DTM) opened at $52.36 per share. The company currently boasts a market capitalization of $5.07 billion, which further highlights its significance and potential within the energy sector. Notably, DT Midstream holds a favorable price-to-earnings ratio of 13.74 and presents a beta value of 0.80.
Moreover, investors should take note of the stock’s 52-week range, with a low point observed at $45.10 and a high point at $61.12 over the past year. These figures provide insights into the stock’s volatility and fluctuation within that period.
From a liquidity perspective, DT Midstream maintains both strong quick and current ratios of 0.36 each, indicating its sound financial standing and ability to meet short-term obligations promptly. Furthermore, the company has maintained a debt-to-equity ratio of 0.73—an encouraging sign that it has controlled its debt levels effectively.
Lastly, looking into the price trends over time for DT Midstream, we note that it has recorded both a 50-day moving average and a 200-day moving average with values of $49.06 and $49.94 respectively.
In summary, LSV Asset Management’s substantial increase in their holdings within DT Midstream demonstrates their unwavering confidence in the company’s future potential for success in the energy sector. Although opinions from analysts are varied regarding DT Midstream’s current performance and future outlook, investors will be keenly observing how this fascinating dynamic unfolds as they consider their investment decisions moving forward.
References:
1) https://www.sec.gov/Archives/edgar/data/1552682/000108514621001143/xslF345X03/wf-form3_162740653378700.xml
2) https://www.bloomberg.com/quote/DTM:US
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Recent Institutional Activity and Analyst Reports Surrounding DT Midstream
DT Midstream (DTM) has recently seen activity from various institutional investors and hedge funds. Commonwealth of Pennsylvania Public School Empls Retrmt SYS, for example, increased its position in shares of DT Midstream by 13.5% during the fourth quarter. This resulted in the ownership of 43,524 shares valued at $2,405,000. State of New Jersey Common Pension Fund D also grew its position by 12.3% in the first quarter, owning 46,098 shares valued at $2,276,000.
Maryland State Retirement & Pension System witnessed significant growth in its position in DT Midstream during the first quarter as well. It now owns 106,454 shares worth $5,256,000 after acquiring an additional 75,710 shares. Amalgamated Bank also increased its position in the company by 13.1% during the fourth quarter and now owns 78,439 shares valued at $4,335,000.
TFG Advisers LLC saw a 7.3% increase in its position during the fourth quarter and now holds 4,917 shares valued at $272,000. Collectively, institutional investors own approximately 79.95% of DT Midstream’s stock.
In other news surrounding DT Midstream’s stock activity is the purchase made by Director Peter I. Tumminello on Tuesday, May 23rd. Tumminello acquired a total of 5,000 shares at an average cost of $47.35 per share amounting to a value of $236,750. Following this acquisition transaction, Tumminello’s ownership stands at a total of 9,888 shares with an approximate value of $468,196.80.
CEO David Slater also purchased additional shares on Monday May 8th; he acquired around1 ,500 shares at an average cost of $46.57 per share, making a total value of $69,855.00. Interestingly, insiders have bought 8,500 shares of DT Midstream’s stock valued at $400,005 over the last three months.
Analyst reports on DT Midstream have varied in their recommendations and evaluations of the company’s stocks. Morgan Stanley lowered their price objective from $60.00 to $58.00 and rated the company as “underweight.” Raymond James, on the other hand, initiated coverage on DT Midstream with an “outperform” rating.
Barclays also decreased their price objective from $64.00 to $57.00 while Mizuho decreased theirs from $59.00 to $58.00.
JPMorgan Chase & Co., following suit, reduced their price target from $60.00 to $59.00 Consequently, based on data from Bloomberg.com, DT Midstream currently has an average rating of “Hold” and a consensus target price of $56.83.
In regards to earnings data for DTM issued on Tuesday, May 2nd, the company reported an EPS (Earnings Per Share) of $0.84 for the quarter which fell short by ($0.08) against analysts’ consensus estimates of $0.92 EPS.
Furthermore, during this period last year DT Midstream had earned an identical quarterly EPS amounting to $0.84 per share in comparison to this year’s Q1 report.
As for revenue generated during this quarter was recorded at approximately 220 million dollars given that analysts had estimated a slightly higher amount at 238 million dollars.
Moving forward with projections based on previous performance trends along with current insider activity regarding stock acquisitions etc.,
Wall Street sell-side experts anticipate that DT Midstream can potentially achieve 3.52 earnings per share for its current fiscal year.
Lastly to note is DT Midstream’s most recent dividend announcement which pertaining to a quarterly dividend payout issued on Saturday, July 15th. As per the announcement, shareholders of record on Monday, June 19th were entitled to receive a $0.69 dividend. Calculated on an annualized basis this figure reflects a $2.76 dividend payout rate with a yield set at approximately 5.27%. The ex-dividend date for this payment was Thursday, June 15th as per prior disclosure.
Considering all these factors together, DT Midstream persists in being an intriguing prospect within the stock market domain and warrants careful observation for potential investment opportunities.
