DT Midstream, Inc. $DTM Shares Bought by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 94.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,067 shares of the company’s stock after purchasing an additional 36,067 shares during the quarter. Waratah Capital Advisors Ltd. owned about 0.07% of DT Midstream worth $8,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of DT Midstream during the first quarter valued at $25,000. Twin Tree Management LP purchased a new stake in DT Midstream during the 1st quarter valued at about $29,000. Parkside Financial Bank & Trust increased its holdings in shares of DT Midstream by 138.2% in the second quarter. Parkside Financial Bank & Trust now owns 312 shares of the company’s stock valued at $34,000 after purchasing an additional 181 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of DT Midstream in the second quarter worth about $38,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of DT Midstream by 39.3% during 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 period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 2.3%

DTM stock opened at $115.92 on Friday. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $116.49. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s fifty day moving average is $110.21 and its 200 day moving average is $106.01. The firm has a market cap of $11.79 billion, a PE ratio of 29.27, a P/E/G ratio of 2.26 and a beta of 0.77.

DT Midstream (NYSE:DTM) last posted its earnings results on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.10. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. The business had revenue of $314.00 million for the quarter, compared to analyst estimates of $309.21 million. During the same period in the prior year, the company posted $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 15th. DT Midstream’s dividend payout ratio (DPR) is presently 82.83%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DTM. Jefferies Financial Group began coverage on shares of DT Midstream in a report on Monday, November 3rd. They issued a “buy” rating and a $125.00 price target on the stock. Barclays raised their target price on shares of DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Citigroup boosted their target price 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. Morgan Stanley increased their price target on DT Midstream from $126.00 to $137.00 and gave the stock an “underweight” rating in a research report on Wednesday. Finally, UBS Group lifted their price objective on DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, DT Midstream presently has an average rating of “Hold” and a consensus target price of $117.46.

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.