Magnetar Financial LLC purchased a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,643 shares of the company's stock, valued at approximately $255,000.
A number of other institutional investors have also recently made changes to their positions in the company. Ballentine Partners LLC grew its position in shares of DT Midstream by 4.8% during the first quarter. Ballentine Partners LLC now owns 2,498 shares of the company's stock valued at $241,000 after purchasing an additional 114 shares in the last quarter. Independent Advisor Alliance grew its position in shares of DT Midstream by 2.5% during the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company's stock valued at $455,000 after purchasing an additional 117 shares in the last quarter. Bessemer Group Inc. grew its position in shares of DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 135 shares in the last quarter. Applied Finance Capital Management LLC grew its position in shares of DT Midstream by 6.5% during the first quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company's stock valued at $233,000 after purchasing an additional 147 shares in the last quarter. Finally, Secure Asset Management LLC grew its position in shares of DT Midstream by 6.8% during the first quarter. Secure Asset Management LLC now owns 2,470 shares of the company's stock valued at $238,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.
DT Midstream Trading Down 0.1%
NYSE DTM traded down $0.13 during trading on Friday, hitting $105.17. The stock had a trading volume of 813,426 shares, compared to its average volume of 643,702. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 2.30 and a beta of 0.77. DT Midstream, Inc. has a one year low of $73.52 and a one year high of $114.50. The stock has a 50 day simple moving average of $103.29 and a 200 day simple moving average of $100.65.
DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 33.90% and a return on equity of 8.48%. During the same quarter last year, the firm earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Sell-side analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.
DT Midstream Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.1%. DT Midstream's dividend payout ratio (DPR) is presently 87.94%.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on DTM. Stifel Nicolaus raised their price objective on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company raised their price objective on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley raised their price objective on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Mizuho lifted their price target on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Finally, Barclays lifted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, DT Midstream has an average rating of "Hold" and an average price target of $110.67.
Read Our Latest Stock Report on DT Midstream
Insider Transactions at DT Midstream
In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $104.47, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.
About DT Midstream
(
Free Report)
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.
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