BI Asset Management Fondsmaeglerselskab A S Takes Position in DT Midstream, Inc. $DTM

Key Points

• BI Asset Management purchased a $5.12 million stake in DT Midstream, acquiring 53,042 shares, which represents about 0.05% of the company.
• DT Midstream's stock has an average target price of $110.91 and has recently received mixed ratings from analysts, with six analysts rating it as a Buy.
• The company announced a quarterly dividend of $0.82, yielding 3.2%, scheduled for distribution on October 15th to investors of record as of September 15th.

BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 53,042 shares of the company's stock, valued at approximately $5,117,000. BI Asset Management Fondsmaeglerselskab A S owned about 0.05% of DT Midstream at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in DT Midstream during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new stake in DT Midstream during the 1st quarter worth approximately $26,000. Bessemer Group Inc. grew its position in DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 135 shares during the last quarter. Versant Capital Management Inc boosted its position in DT Midstream by 130.2% in the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after buying an additional 276 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in DT Midstream by 50.3% in the 1st quarter. UMB Bank n.a. now owns 723 shares of the company's stock valued at $70,000 after buying an additional 242 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley increased their price objective 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 increased their price objective on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus increased their price objective on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Barclays increased their price objective 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. Finally, US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, DT Midstream presently has a consensus rating of "Hold" and a consensus price target of $110.91.

DT Midstream Trading Down 1.7%

Shares of NYSE:DTM traded down $1.72 during midday trading on Friday, hitting $101.52. The company had a trading volume of 520,918 shares, compared to its average volume of 715,524. DT Midstream, Inc. has a 12 month low of $73.52 and a 12 month high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 27.22, a PEG ratio of 1.84 and a beta of 0.77. The firm has a fifty day simple moving average of $103.88 and a 200 day simple moving average of $100.45.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping 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 the consensus estimate of $295.70 million. During the same quarter last year, the business posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 3.2%. DT Midstream's dividend payout ratio (DPR) is currently 87.94%.

Insider Activity

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the sale, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. This trade 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. 0.34% of the stock is owned by corporate insiders.

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.