10,065 Shares in DT Midstream, Inc. $DTM Purchased by Spartan Wealth Advisory Services LLC

Key Points

• Spartan Wealth Advisory Services opened a new position in DT Midstream, buying 10,065 shares valued at about $1.356 million in the first quarter.
• Institutional ownership remains a major theme, with hedge funds and other institutions holding 81.53% of DT Midstream shares and several large investors recently adding to their stakes.
• DT Midstream reported better-than-expected quarterly results, posting EPS of $1.27 versus $1.11 expected and revenue of $336 million; the company also pays a quarterly dividend of $0.88 per share for a 2.4% yield.

Spartan Wealth Advisory Services LLC bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 10,065 shares of the company's stock, valued at approximately $1,356,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of DT Midstream in the 4th quarter worth approximately $115,715,000. Merewether Investment Management LP increased its holdings in DT Midstream by 192.4% during the third quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company's stock valued at $113,128,000 after buying an additional 658,400 shares during the period. Clark Capital Management Group Inc. increased its holdings in DT Midstream by 414.2% during the fourth quarter. Clark Capital Management Group Inc. now owns 367,901 shares of the company's stock valued at $44,030,000 after buying an additional 296,348 shares during the period. Tortoise Capital Advisors L.L.C. raised its stake in DT Midstream by 10.6% in the fourth quarter. Tortoise Capital Advisors L.L.C. now owns 2,980,945 shares of the company's stock worth $356,759,000 after buying an additional 285,770 shares in the last quarter. Finally, Millennium Management LLC raised its stake in DT Midstream by 838.1% in the third quarter. Millennium Management LLC now owns 280,370 shares of the company's stock worth $31,699,000 after buying an additional 250,483 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $144.82 on Monday. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 3.15 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.26 and a quick ratio of 1.26. The business has a fifty day moving average of $145.19 and a 200 day moving average of $136.41. DT Midstream, Inc. has a 1 year low of $98.06 and a 1 year high of $152.88.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.11 by $0.16. The business had revenue of $336.00 million for the quarter, compared to the consensus estimate of $313.65 million. DT Midstream had a net margin of 36.28% and a return on equity of 9.53%. During the same period in the prior year, the firm earned $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. As a group, research analysts expect that DT Midstream, Inc. will post 4.77 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were given a dividend of $0.88 per share. The ex-dividend date was Monday, June 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.4%. DT Midstream's dividend payout ratio is currently 77.88%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DTM shares. Morgan Stanley upped their target price on DT Midstream from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 12th. UBS Group boosted their price target on DT Midstream from $152.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. The Goldman Sachs Group upped their price objective on DT Midstream from $111.00 to $127.00 and gave the stock a "sell" rating in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their price objective on DT Midstream from $146.00 to $154.00 and gave the company a "neutral" rating in a research report on Wednesday, July 8th. Finally, Scotiabank initiated coverage on DT Midstream in a research note on Tuesday, May 26th. They issued an "outperform" rating and a $176.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, DT Midstream presently has an average rating of "Moderate Buy" and an average target price of $155.69.

About DT Midstream

DT Midstream Inc NYSE: DTM is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.

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