Baird Financial Group Inc. Has $9.24 Million Stock Holdings in DT Midstream, Inc. $DTM

Key Points

• Baird Financial Group Inc. reduced its stake in DT Midstream, Inc. by 15.2%, now owning approximately 95,792 shares worth $9.24 million.
• Analyst ratings have mostly been positive with several firms raising their price targets, resulting in a consensus rating of "Hold" and an average target price of $110.67.
• DT Midstream has announced a quarterly dividend of $0.82 per share, which will be paid on October 15th to stockholders of record by September 15th, indicating a dividend yield of 3.2%.

Baird Financial Group Inc. reduced its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 15.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 95,792 shares of the company's stock after selling 17,206 shares during the quarter. Baird Financial Group Inc. owned about 0.09% of DT Midstream worth $9,242,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of DT Midstream in the first quarter worth $25,000. Alpine Bank Wealth Management acquired a new position in DT Midstream during the first quarter worth $26,000. Bessemer Group Inc. increased its position in DT Midstream by 44.0% during 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. Versant Capital Management Inc increased its position in DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after buying an additional 276 shares during the last quarter. Finally, UMB Bank n.a. increased its position in DT Midstream by 50.3% during the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock worth $70,000 after buying an additional 242 shares during the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

Shares of DT Midstream stock traded down $0.13 during midday trading on Friday, hitting $105.17. 813,426 shares of the company were exchanged, compared to its average volume of 643,702. The firm has a 50 day simple moving average of $103.29 and a 200-day simple moving average of $100.65. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $10.68 billion, a P/E ratio of 28.20, a PEG ratio of 2.30 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $73.52 and a 52 week high of $114.50.

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

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream's payout ratio is 87.94%.

Insiders Place Their Bets

In related news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the vice president owned 5,171 shares in the company, valued at $540,214.37. The trade was a 47.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DTM has been the topic of several research analyst reports. Morgan Stanley raised their price target on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company raised their price target on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Barclays raised their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus raised their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Mizuho raised their price target on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $110.67.

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.