Credit Agricole S A Makes New $1.93 Million Investment in DT Midstream, Inc. $DTM

Key Points

• Credit Agricole S.A. has acquired 19,955 shares of DT Midstream, valued at approximately $1.93 million, during the 1st quarter.
• DT Midstream recently announced a quarterly dividend of $0.82, with an annualized yield of 3.2%, scheduled to be paid on October 15th.
• Analysts have varying ratings for DT Midstream, with six giving it a "Buy," three a "Hold," and two a "Sell," reflecting mixed sentiment in the market.

Credit Agricole S A bought a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 19,955 shares of the company's stock, valued at approximately $1,925,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock worth $1,078,161,000 after purchasing an additional 621,183 shares during the period. Deutsche Bank AG lifted its position in shares of DT Midstream by 5.5% in the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock worth $281,569,000 after purchasing an additional 147,790 shares during the period. Blackstone Inc. lifted its position in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the period. Northern Trust Corp lifted its position in shares of DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock worth $111,615,000 after purchasing an additional 94,470 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of DT Midstream by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock worth $110,790,000 after purchasing an additional 5,218 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DTM has been the subject of several research reports. Stifel Nicolaus increased 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 increased their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Barclays increased their price target on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. 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. Finally, Mizuho set a $108.00 price target on shares of DT Midstream and gave the stock a "neutral" rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus target price of $110.67.

DT Midstream Stock Performance

Shares of NYSE DTM traded up $0.18 during trading on Friday, reaching $104.32. 180,899 shares of the company traded hands, compared to its average volume of 984,688. The firm has a 50 day simple moving average of $103.66 and a 200-day simple moving average of $100.48. 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 market capitalization of $10.60 billion, a PE ratio of 27.97, a P/E/G ratio of 1.84 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $73.52 and a 52-week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The firm had revenue of $299.00 million for the quarter, compared to the consensus estimate 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 last year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.1%. DT Midstream's payout ratio is currently 87.94%.

Insiders Place Their Bets

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction that occurred 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 transaction, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. The trade was 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 through the SEC website. 0.34% of the stock is 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.