DT Midstream, Inc. $DTM Shares Acquired by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 234.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,632 shares of the company’s stock after acquiring an additional 9,555 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in DT Midstream were worth $1,498,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after purchasing an additional 621,183 shares during the period. Tortoise Capital Advisors L.L.C. boosted its position in shares of DT Midstream by 21.8% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company’s stock valued at $152,712,000 after purchasing an additional 282,870 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of DT Midstream by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company’s stock valued at $119,326,000 after purchasing an additional 131,138 shares during the period. Northern Trust Corp boosted its position in shares of DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company’s stock valued at $111,615,000 after purchasing an additional 94,470 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of DT Midstream by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company’s stock valued at $110,790,000 after purchasing an additional 5,218 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Melissa Cox sold 4,755 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $540,214.37. This trade represents a 47.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

DTM has been the subject of a number of research analyst reports. UBS Group upped their target price on DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Mizuho increased their price objective on DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, October 8th. Citigroup increased their price objective on DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus set a $119.00 price objective on DT Midstream in a research report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $115.08.

DT Midstream Stock Performance

Shares of DTM stock opened at $105.90 on Friday. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 2.37 and a beta of 0.78. The stock has a 50 day simple moving average of $107.68 and a 200-day simple moving average of $104.05. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $115.80. The company has a current ratio of 0.88, a quick 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, topping analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same period in the prior 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 forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. 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.