59 North Capital Management LP Sells 23,761 Shares of DT Midstream, Inc. $DTM

Key Points

• 59 North Capital Management trimmed its DT Midstream stake by 0.8% in the fourth quarter, selling 23,761 shares. Even after the sale, the fund still held 3.05 million shares valued at about $365.1 million, making DTM its second-largest holding.
• DT Midstream reported better-than-expected quarterly results, with EPS of $1.27 versus estimates of $1.11 and revenue of $336 million versus $313.65 million expected. The company also raised guidance for FY 2026 to $4.42-$4.82 EPS.
• The company announced a quarterly dividend of $0.88 per share, implying a 2.5% yield and $3.52 annualized payout. Wall Street currently has a consensus rating of Moderate Buy with an average price target of $154.46.

59 North Capital Management LP lessened its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 0.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,050,320 shares of the company's stock after selling 23,761 shares during the quarter. DT Midstream comprises approximately 11.4% of 59 North Capital Management LP's holdings, making the stock its 2nd biggest holding. 59 North Capital Management LP owned approximately 3.00% of DT Midstream worth $365,062,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Deutsche Bank AG lifted its holdings in shares of DT Midstream by 6.9% during the 4th quarter. Deutsche Bank AG now owns 3,090,365 shares of the company's stock valued at $369,855,000 after acquiring an additional 200,114 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in DT Midstream by 10.6% during the 4th 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 during the period. Dimensional Fund Advisors LP increased its stake in DT Midstream by 3.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company's stock worth $301,695,000 after buying an additional 99,602 shares during the period. Geode Capital Management LLC increased its stake in DT Midstream by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 2,407,612 shares of the company's stock worth $288,191,000 after buying an additional 106,533 shares during the period. Finally, Morgan Stanley increased its stake in DT Midstream by 7.7% during the 4th quarter. Morgan Stanley now owns 1,041,197 shares of the company's stock worth $124,611,000 after buying an additional 74,355 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Up 0.3%

NYSE DTM opened at $140.86 on Thursday. 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 company's 50 day simple moving average is $141.02 and its 200 day simple moving average is $132.36. DT Midstream, Inc. has a 12 month low of $98.06 and a 12 month high of $152.88. The company has a market capitalization of $14.37 billion, a P/E ratio of 31.16, a PEG ratio of 3.06 and a beta of 0.72.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.16. DT Midstream had a net margin of 36.28% and a return on equity of 9.53%. The business had revenue of $336.00 million for the quarter, compared to the consensus estimate of $313.65 million. During the same period in the previous year, the firm earned $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. Equities research analysts expect that DT Midstream, Inc. will post 4.75 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, June 15th. DT Midstream's payout ratio is presently 77.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DTM shares. The Goldman Sachs Group lifted their price target on shares of DT Midstream from $111.00 to $127.00 and gave the stock a "sell" rating in a research note on Monday, April 20th. Mizuho lifted their price target on shares of DT Midstream from $129.00 to $153.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 5th. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $126.00 to $142.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Raymond James Financial reissued an "outperform" rating and issued a $158.00 target price on shares of DT Midstream in a research report on Thursday, April 30th. Finally, Scotiabank started coverage on shares of DT Midstream in a research report on Tuesday, May 26th. They issued an "outperform" rating and a $176.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $154.46.

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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