DT Midstream, Inc. $DTM Shares Acquired by Bernard Wealth Management Corp.

Bernard Wealth Management Corp. lifted its position in shares of DT Midstream, Inc. (NYSE:DTM) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,344 shares of the company’s stock after buying an additional 510 shares during the quarter. DT Midstream makes up about 0.9% of Bernard Wealth Management Corp.’s holdings, making the stock its 23rd largest position. Bernard Wealth Management Corp.’s holdings in DT Midstream were worth $1,906,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Drucker Wealth 3.0 LLC acquired a new position in DT Midstream in the 2nd quarter valued at about $551,000. Blue Trust Inc. increased its position in DT Midstream by 133.5% during the 2nd quarter. Blue Trust Inc. now owns 3,612 shares of the company’s stock worth $397,000 after purchasing an additional 2,065 shares in the last quarter. McKinley Carter Wealth Services Inc. acquired a new stake in DT Midstream during the 2nd quarter worth approximately $219,000. Callan Family Office LLC acquired a new stake in DT Midstream in the second quarter valued at approximately $311,000. Finally, US Bancorp DE grew its position in DT Midstream by 8.7% in the second quarter. US Bancorp DE now owns 7,831 shares of the company’s stock valued at $861,000 after acquiring an additional 628 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTM. Barclays increased their price objective on shares of DT Midstream from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday. UBS Group raised their price objective on DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Citigroup upped their price target on shares of DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley raised their price target on DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. raised their price target on DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $114.17.

DT Midstream Trading Down 1.3%

Shares of DTM opened at $109.66 on Friday. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $115.80. The stock has a market capitalization of $11.14 billion, a P/E ratio of 29.40, a P/E/G ratio of 2.43 and a beta of 0.78. 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 business’s 50-day moving average price is $106.76 and its 200 day moving average price is $103.18.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS 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 firm had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. During the same period last year, the company posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. DT Midstream’s dividend payout ratio (DPR) is presently 87.94%.

Insider Activity

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the sale, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. The trade was a 47.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by corporate 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.