6,243 Shares in DT Midstream, Inc. $DTM Acquired by Turtle Creek Wealth Advisors LLC

Key Points

• Turtle Creek Wealth Advisors LLC has acquired 6,243 shares of DT Midstream, Inc., valued at approximately $686,000, during the second quarter, marking a new position for the firm in the company's stock.
• DT Midstream has received several upgrades from analysts, with price targets lifted by firms including Wells Fargo and Citigroup, indicating a generally positive outlook on the stock.
• The company recently declared a quarterly dividend of $0.82 per share, which represents an annualized dividend yield of 3.0%, with a payout ratio of 87.94%.

Turtle Creek Wealth Advisors LLC bought a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,243 shares of the company's stock, valued at approximately $686,000.

Several other hedge funds have also modified their holdings of the stock. Ballentine Partners LLC lifted its position in shares of DT Midstream by 4.2% during the second quarter. Ballentine Partners LLC now owns 2,604 shares of the company's stock worth $286,000 after purchasing an additional 106 shares in the last quarter. Independent Advisor Alliance increased its stake in shares of DT Midstream by 2.5% in the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company's stock worth $455,000 after buying an additional 117 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after buying an additional 123 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after buying an additional 135 shares during the last quarter. Finally, Applied Finance Capital Management LLC increased its stake in shares of DT Midstream by 6.5% in the first quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company's stock worth $233,000 after buying an additional 147 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Mizuho lifted their price target on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of DT Midstream in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $114.00 to $118.00 and gave the company a "neutral" rating in a research note on Monday, September 29th. Finally, 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 note on Thursday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, DT Midstream has an average rating of "Hold" and an average target price of $115.08.

Insider Activity

In related news, VP Melissa Cox sold 4,755 shares of the company'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 represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company's stock.

DT Midstream Stock Performance

Shares of DTM opened at $109.64 on Friday. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $115.80. The company has a market cap of $11.14 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.78. 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 firm has a fifty day moving average of $107.24 and a 200-day moving average of $103.54.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The company had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the previous year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. DT Midstream's 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.

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