BI Asset Management Fondsmaeglerselskab A S Acquires New 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 acquired a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 53,042 shares of the company's stock, valued at approximately $5,117,000. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of DT Midstream at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. CWM LLC increased its position in shares of DT Midstream by 18.9% in the first quarter. CWM LLC now owns 4,201 shares of the company's stock valued at $405,000 after acquiring an additional 669 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of DT Midstream in the first quarter worth approximately $274,000. Bessemer Group Inc. lifted 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 in the last quarter. True Link Financial Advisors LLC bought a new position in shares of DT Midstream in the first quarter worth approximately $238,000. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of DT Midstream by 10.1% in the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock worth $13,896,000 after buying an additional 13,243 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Down 0.0%

Shares of DT Midstream stock traded down $0.02 on Tuesday, reaching $100.80. The stock had a trading volume of 273,156 shares, compared to its average volume of 986,988. The company has a 50 day moving average price of $103.80 and a 200 day moving average price of $100.44. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 1 year low of $73.52 and a 1 year high of $114.50. The stock has a market capitalization of $10.24 billion, a P/E ratio of 27.03, a P/E/G ratio of 1.84 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.04 EPS 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 company had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. During the same period last year, the business earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, September 15th. DT Midstream's payout ratio is currently 87.94%.

Insider Buying and Selling

In related news, VP Melissa Cox sold 4,755 shares of the business'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 completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on DTM shares. US Capital Advisors downgraded shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Stifel Nicolaus lifted their price target on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company raised their target price on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Morgan Stanley raised their target price on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Finally, Barclays raised their target price on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, DT Midstream currently has a consensus rating of "Hold" and a consensus price target of $110.91.

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.