DT Midstream, Inc. $DTM Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 0.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 244,567 shares of the company’s stock after purchasing an additional 842 shares during the quarter. Retirement Systems of Alabama’s holdings in DT Midstream were worth $26,880,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DTM. Vanguard Group Inc. boosted its position in shares of DT Midstream by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after acquiring an additional 621,183 shares during the last quarter. Jane Street Group LLC raised its stake in DT Midstream by 1,699.5% during the first quarter. Jane Street Group LLC now owns 401,170 shares of the company’s stock worth $38,705,000 after purchasing an additional 378,877 shares during the period. Nuveen LLC acquired a new position in DT Midstream in the 1st quarter valued at about $33,529,000. HITE Hedge Asset Management LLC acquired a new position in DT Midstream in the 1st quarter valued at about $31,139,000. Finally, AQR Capital Management LLC grew its stake in shares of DT Midstream by 59.9% in the 1st quarter. AQR Capital Management LLC now owns 804,745 shares of the company’s stock valued at $77,247,000 after buying an additional 301,355 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 3.1%

Shares of DTM opened at $109.76 on Friday. The company’s 50-day simple moving average is $108.14 and its 200-day simple moving average is $104.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. 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 $11.15 billion, a PE ratio of 29.43, a P/E/G ratio of 2.30 and a beta of 0.78.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The firm had revenue of $309.16 million during the quarter, compared to analysts’ expectations of $309.21 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the previous year, the business posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. Analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. DT Midstream’s dividend payout ratio is currently 87.94%.

Insider Activity

In related news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction on Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the transaction, the vice president directly owned 5,171 shares in the company, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the topic of several analyst reports. Citigroup lifted their price target on shares of DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Wells Fargo & Company lifted their target price on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Barclays increased their price target on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Stifel Nicolaus set a $119.00 price objective on DT Midstream in a research report on Tuesday, October 14th. Finally, Mizuho upped their target price 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. Seven equities 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, the company currently has an average rating of “Hold” and a consensus price target of $115.08.

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.