City Holding Co. Purchases 2,923 Shares of DT Midstream, Inc. $DTM

City Holding Co. grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 14.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 22,526 shares of the company’s stock after acquiring an additional 2,923 shares during the quarter. City Holding Co.’s holdings in DT Midstream were worth $2,476,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of DT Midstream in the first quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new position in shares of DT Midstream in the first quarter worth $26,000. Twin Tree Management LP bought a new stake in DT Midstream in the first quarter worth $29,000. Geneos Wealth Management Inc. increased its position in DT Midstream by 39.3% in 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 during the last quarter. Finally, Bessemer Group Inc. increased its position in DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, VP Melissa Cox sold 4,755 shares of the company’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the sale, the vice president directly owned 5,171 shares of the company’s stock, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

DT Midstream Stock Up 2.1%

Shares of DTM opened at $113.48 on Friday. The firm has a market capitalization of $11.53 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.48 and a beta of 0.77. DT Midstream, Inc. has a 12-month low of $76.91 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. The firm has a fifty day moving average price of $104.30 and a 200-day moving average price of $102.13.

DT Midstream (NYSE:DTM) last issued its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The firm had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. During the same period in the previous 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 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. DT Midstream’s dividend payout ratio is 87.94%.

About DT Midstream

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.