Ancora Advisors LLC Has $6.66 Million Stock Holdings in DT Midstream, Inc. $DTM

Key Points

• Ancora Advisors LLC has reduced its stake in DT Midstream, Inc. by 24.8%, now holding 68,973 shares valued at approximately $6.66 million.
• DT Midstream's quarterly earnings were reported at $1.04 per share, exceeding analysts' expectations of $0.98, with a revenue of $299 million against an estimated $295.7 million.
• The company has announced a quarterly dividend of $0.82, resulting in an annualized payout of $3.28 and a dividend yield of 3.1%.

Ancora Advisors LLC decreased its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 24.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,973 shares of the company's stock after selling 22,732 shares during the quarter. Ancora Advisors LLC owned approximately 0.07% of DT Midstream worth $6,655,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in DTM. CWM LLC boosted its holdings in shares of DT Midstream by 18.9% during the 1st quarter. CWM LLC now owns 4,201 shares of the company's stock worth $405,000 after buying an additional 669 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in DT Midstream in the 1st quarter worth about $274,000. Bessemer Group Inc. raised its stake in DT Midstream by 44.0% in the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 135 shares in the last quarter. True Link Financial Advisors LLC acquired a new stake in DT Midstream in the 1st quarter worth about $238,000. Finally, Catalyst Capital Advisors LLC raised its stake in DT Midstream by 10.1% in the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock worth $13,896,000 after purchasing an additional 13,243 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of DT Midstream stock traded up $0.87 during midday trading on Tuesday, hitting $105.40. 179,316 shares of the company traded hands, compared to its average volume of 978,266. DT Midstream, Inc. has a 12 month low of $73.52 and a 12 month high of $114.50. 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 cap of $10.71 billion, a price-to-earnings ratio of 28.25, a PEG ratio of 2.30 and a beta of 0.77. The firm's fifty day moving average price is $103.18 and its 200-day moving average price is $100.69.

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

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's payout ratio is presently 87.94%.

Insider Activity at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the sale, the vice president directly owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

DTM has been the subject of several analyst reports. Barclays boosted their target price on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Morgan Stanley boosted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Stifel Nicolaus boosted their target price on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Mizuho boosted their target price on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Finally, 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 report on Friday, August 1st. Six 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. Based on data from MarketBeat, DT Midstream currently has a consensus rating of "Hold" and a consensus target price of $110.67.

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.