DT Midstream, Inc. $DTM Shares Sold by BROOKFIELD Corp ON

Key Points

• BROOKFIELD Corp ON has reduced its stake in DT Midstream, Inc. by 64.4%, now owning 0.34% of the company, valued at approximately $33.25 million.
• DT Midstream recently reported earnings per share (EPS) of $1.04 for the last quarter, exceeding analysts' expectations and setting FY 2025 guidance of 4.050-4.450 EPS.
• The company announced a quarterly dividend of $0.82, with an annualized yield of 3.1%, and a payout ratio of 87.94% as of the last financial quarter.

BROOKFIELD Corp ON cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 64.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,642 shares of the company's stock after selling 623,704 shares during the quarter. BROOKFIELD Corp ON owned about 0.34% of DT Midstream worth $33,251,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Strs Ohio purchased a new stake in shares of DT Midstream during the first quarter worth about $2,337,000. Acadian Asset Management LLC increased its position in shares of DT Midstream by 77.4% during the first quarter. Acadian Asset Management LLC now owns 68,296 shares of the company's stock worth $6,585,000 after acquiring an additional 29,792 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after acquiring an additional 123 shares during the last quarter. Intech Investment Management LLC increased its position in shares of DT Midstream by 617.9% during the first quarter. Intech Investment Management LLC now owns 72,102 shares of the company's stock worth $6,956,000 after acquiring an additional 62,058 shares during the last quarter. Finally, Focus Partners Wealth increased its position in shares of DT Midstream by 1.9% during the first quarter. Focus Partners Wealth now owns 248,327 shares of the company's stock worth $23,959,000 after acquiring an additional 4,588 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

DTM stock traded down $0.07 during midday trading on Friday, reaching $107.27. The company had a trading volume of 474,326 shares, compared to its average volume of 648,950. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $103.25 and a 200 day moving average price of $101.02. DT Midstream, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $114.50. The firm has a market capitalization of $10.90 billion, a PE ratio of 28.76, a P/E/G ratio of 2.35 and a beta of 0.77.

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

DT Midstream Announces Dividend

The business also recently announced 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. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream's payout ratio is presently 87.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley lifted their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. 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. Stifel Nicolaus lifted their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, 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. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of "Hold" and a consensus target price of $110.67.

Insider Buying and Selling

In other news, VP Melissa Cox sold 4,755 shares of the business's 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 completion of the transaction, the vice president directly owned 5,171 shares in the company, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by 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.