4,157 Shares in DT Midstream, Inc. $DTM Acquired by Aristeia Capital L.L.C.

Key Points

• Aristeia Capital L.L.C. purchased a new stake of 4,157 shares of DT Midstream, Inc. valued at approximately $401,000 during the first quarter, indicating significant interest from hedge funds in the company.
• DT Midstream's current analyst ratings show a consensus of “Hold” with an average target price of $110.67, highlighting mixed views among analysts.
• The company announced a quarterly dividend of $0.82 per share, reflecting a yield of 3.1% and demonstrating its ongoing commitment to returning value to shareholders.

Aristeia Capital L.L.C. bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,157 shares of the company's stock, valued at approximately $401,000.

Several other large investors also recently modified their holdings of DTM. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of DT Midstream during the first quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new stake in shares of DT Midstream during the first quarter valued at about $26,000. Twin Tree Management LP acquired a new stake in shares of DT Midstream during the first quarter valued at about $29,000. Bessemer Group Inc. grew its stake 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 acquiring an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in DT Midstream by 130.2% in the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after purchasing an additional 276 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on DTM. Mizuho lifted their price target on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. 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 note on Tuesday, May 20th. Stifel Nicolaus lifted their target price on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company lifted their target price on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley lifted their target price on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, DT Midstream currently has a consensus rating of "Hold" and an average price target of $110.67.

DT Midstream Stock Performance

Shares of DTM traded down $0.07 during mid-day trading on Friday, reaching $107.27. 474,011 shares of the company's stock traded hands, compared to its average volume of 971,690. The business's 50-day moving average price is $103.23 and its 200-day moving average price is $100.84. The stock has a market capitalization of $10.90 billion, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. DT Midstream, Inc. has a 12 month low of $75.56 and a 12 month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The company had revenue of $299.00 million for the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.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. Equities analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's payout ratio is 87.94%.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the sale, the vice president owned 5,171 shares of the company's stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company's stock.

DT Midstream Profile

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.