Cranbrook Wealth Management LLC Grows Stock Position in DT Midstream, Inc. $DTM

Key Points

• Cranbrook Wealth Management LLC has increased its stake in DT Midstream, Inc. by 412.7%, acquiring a total of 3,107 shares valued at $341,000.
• DT Midstream recently reported earnings of $1.04 EPS, exceeding analyst expectations, and has set its FY 2025 guidance at $4.050-4.450 EPS.
• The company announced a quarterly dividend of $0.82 per share, translating to an annualized yield of 3.0%, to be paid on October 15th.

Cranbrook Wealth Management LLC lifted its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 412.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,107 shares of the company's stock after purchasing an additional 2,501 shares during the quarter. Cranbrook Wealth Management LLC's holdings in DT Midstream were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in DT Midstream during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new position in shares of DT Midstream in the 1st quarter valued at about $26,000. Twin Tree Management LP acquired a new position in shares of DT Midstream during the first quarter worth about $29,000. Geneos Wealth Management Inc. lifted its position in shares of DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after purchasing an additional 123 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of 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 purchasing an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of DTM opened at $110.31 on Wednesday. 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 $11.21 billion, a P/E ratio of 29.57, a PEG ratio of 2.36 and a beta of 0.77. DT Midstream, Inc. has a 12-month low of $76.91 and a 12-month high of $114.50. The company has a 50-day moving average of $103.80 and a two-hundred day moving average of $101.68.

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

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is currently 87.94%.

Analyst Upgrades and Downgrades

DTM has been the subject of several recent analyst reports. Wells Fargo & Company boosted their target price on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note 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 report on Friday, August 1st. Mizuho lifted their target price on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Finally, Morgan Stanley increased their price target 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. Six research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $110.67.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the 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 sale, the vice president directly owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding DTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DT Midstream, Inc. (NYSE:DTM - Free Report).

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.