McKinley Carter Wealth Services Inc. Acquires New Stake in DT Midstream, Inc. $DTM

McKinley Carter Wealth Services Inc. purchased a new position in DT Midstream, Inc. (NYSE:DTM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,997 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock worth $1,078,161,000 after buying an additional 621,183 shares during the last quarter. Tortoise Capital Advisors L.L.C. grew its position in DT Midstream by 21.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company’s stock worth $152,712,000 after buying an additional 282,870 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in DT Midstream by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company’s stock worth $119,326,000 after buying an additional 131,138 shares during the last quarter. Northern Trust Corp grew its position in DT Midstream by 8.9% in the first quarter. Northern Trust Corp now owns 1,156,867 shares of the company’s stock worth $111,615,000 after buying an additional 94,470 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in DT Midstream by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company’s stock worth $110,790,000 after buying an additional 5,218 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Down 1.3%

Shares of NYSE:DTM opened at $109.66 on Friday. The firm has a fifty day moving average of $106.76 and a two-hundred day moving average of $103.18. The firm has a market capitalization of $11.14 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.43 and a beta of 0.78. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $115.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69.

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. The company had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter last year, the business posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

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

Insider Activity

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction 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 completion of the sale, the vice president owned 5,171 shares of the company’s stock, valued at $540,214.37. This trade represents a 47.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DTM has been the topic of several recent research reports. Wells Fargo & Company lifted their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Morgan Stanley raised their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Mizuho raised their price objective 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. UBS Group raised their price objective on shares of DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $114.17.

DT Midstream Company 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.