City Holding Co. Has $2.48 Million Stock Holdings in DT Midstream, Inc. $DTM

Key Points

• City Holding Co. increased its stake in DT Midstream, Inc. by 14.9%, owning 22,526 shares valued at approximately $2.48 million at the end of the second quarter.
• Several investment firms, including Vanguard Group and Jane Street Group, have significantly increased their holdings in DT Midstream, with institutional investors owning 81.53% of the stock.
• DT Midstream announced a quarterly dividend of $0.82 per share, reflecting an annualized dividend of $3.28 and a dividend yield of 2.9%.

City Holding Co. lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 14.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,526 shares of the company's stock after buying an additional 2,923 shares during the period. City Holding Co.'s holdings in DT Midstream were worth $2,476,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DTM. Vanguard Group Inc. lifted its stake in DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after purchasing an additional 621,183 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of DT Midstream by 9,693.3% during the first quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock worth $37,652,000 after purchasing an additional 386,277 shares during the period. Jane Street Group LLC increased its holdings in shares of DT Midstream by 1,699.5% during the first quarter. Jane Street Group LLC now owns 401,170 shares of the company's stock worth $38,705,000 after purchasing an additional 378,877 shares during the period. Nuveen LLC bought a new position in DT Midstream in the first quarter valued at approximately $33,529,000. Finally, HITE Hedge Asset Management LLC bought a new position in DT Midstream in the first quarter valued at approximately $31,139,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DTM. Morgan Stanley boosted their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Wells Fargo & Company boosted their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Mizuho upped their price target on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Finally, Stifel Nicolaus upped their price target on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $110.67.

DT Midstream Price Performance

DTM stock opened at $113.48 on Friday. 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 52 week low of $76.91 and a 52 week high of $114.50. The firm's fifty day moving average is $104.30 and its 200 day moving average is $102.13. The firm has a market cap of $11.53 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.48 and a beta of 0.77.

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

DT Midstream Dividend Announcement

The firm also recently declared 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 2.9%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is presently 87.94%.

Insider Activity

In related news, VP Melissa Cox sold 4,755 shares of the stock in a transaction dated 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 directly owned 5,171 shares in the company, valued at $540,214.37. This trade represents a 47.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.