Clark Capital Management Group Inc. Has $7.93 Million Stake in DT Midstream, Inc. $DTM

Key Points

• Clark Capital Management Group Inc. increased its stake in DT Midstream, Inc. by 88% in Q1, owning 82,214 shares valued at approximately $7.93 million.
• DT Midstream reported a Q2 EPS of $1.04, surpassing expectations, and has set its FY 2025 guidance at 4.050-4.450 EPS.
• The company declared a quarterly dividend of $0.82 per share, with an annualized yield of 3.1%, scheduled for payment to shareholders of record on September 15th.

Clark Capital Management Group Inc. raised its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 88.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 82,214 shares of the company's stock after purchasing an additional 38,488 shares during the period. Clark Capital Management Group Inc. owned 0.08% of DT Midstream worth $7,932,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTM. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of DT Midstream in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management acquired a new position in shares of DT Midstream in the 1st quarter worth approximately $26,000. Twin Tree Management LP acquired a new position in shares of DT Midstream in the 1st quarter worth approximately $29,000. Bessemer Group Inc. lifted its position in shares of DT Midstream by 44.0% in the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 135 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of DT Midstream by 130.2% in the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after purchasing an additional 276 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Insider Buying and Selling

In other DT Midstream 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 transaction of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares in the company, valued at approximately $540,214.37. The trade was a 47.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company's stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $105.43 on Friday. The firm has a market capitalization of $10.71 billion, a PE ratio of 28.26, a price-to-earnings-growth ratio of 2.29 and a beta of 0.77. The firm has a fifty day simple moving average of $103.36 and a two-hundred day simple moving average of $100.63. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 12 month low of $73.52 and a 12 month 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 analysts' consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the previous year, the business posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm 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 dividend of $0.82 per share. 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 87.94%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on DTM shares. Wells Fargo & Company boosted their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Mizuho boosted their target price on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Barclays boosted their target price on shares of 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 boosted their target price on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Morgan Stanley boosted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, DT Midstream has a consensus rating of "Hold" and an average price target of $110.67.

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.

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