DT Midstream, Inc. $DTM Holdings Trimmed by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC reduced its holdings in DT Midstream, Inc. (NYSE:DTM) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,305 shares of the company’s stock after selling 3,194 shares during the quarter. Exchange Traded Concepts LLC owned 0.11% of DT Midstream worth $11,904,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DTM. Mowery & Schoenfeld Wealth Management LLC acquired a new position in DT Midstream during the first quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in shares of DT Midstream in the first quarter worth about $26,000. Twin Tree Management LP acquired a new position in DT Midstream during the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. grew its holdings in DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after buying an additional 123 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock valued at $43,000 after purchasing an additional 135 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Price Performance

DT Midstream stock opened at $107.73 on Friday. The stock’s 50 day moving average is $103.53 and its 200-day moving average is $101.25. The company has a market capitalization of $10.94 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.35 and a beta of 0.77. DT Midstream, Inc. has a 12 month low of $76.13 and a 12 month high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM) last posted its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The company had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same quarter last year, the firm earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. DT Midstream’s dividend payout ratio is presently 87.94%.

Analyst Ratings Changes

DTM has been the subject of a number of analyst reports. Mizuho raised their price target on shares of DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Wells Fargo & Company boosted their target price on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Stifel Nicolaus increased their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Morgan Stanley increased their price target on shares of DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $110.67.

Insider Activity

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $104.47, for a total transaction of $496,754.85. Following the transaction, the vice president owned 5,171 shares in the company, valued at $540,214.37. This represents a 47.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

DT Midstream Profile

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.