Dimensional Fund Advisors LP Reduces Holdings in DT Midstream, Inc. $DTM

Key Points

• Dimensional Fund Advisors LP has reduced its holdings in DT Midstream, Inc. by 18.4%, now owning approximately $293.28 million worth of shares, representing 2.99% of the company.
• DT Midstream announced a quarterly dividend of $0.82, yielding 3.2%, which will be payable on October 15th to shareholders on record as of September 15th.
• The company reported earnings of $1.04 per share for the last quarter, surpassing analyst expectations of $0.98, and had revenues totaling $299 million.

Dimensional Fund Advisors LP reduced its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,039,788 shares of the company's stock after selling 685,433 shares during the period. Dimensional Fund Advisors LP owned 2.99% of DT Midstream worth $293,281,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of DT Midstream in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new stake in shares of DT Midstream in the first quarter valued at approximately $26,000. Bessemer Group Inc. grew its position in shares of DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. Versant Capital Management Inc grew its position in shares of DT Midstream by 130.2% in the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after purchasing an additional 276 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of DT Midstream by 50.3% in the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock valued at $70,000 after purchasing an additional 242 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DTM shares. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Barclays upped their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Morgan Stanley upped their price target on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Stifel Nicolaus upped their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their price objective on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $110.91.

DT Midstream Trading Down 0.7%

NYSE:DTM traded down $0.70 during trading hours on Friday, reaching $102.54. 102,038 shares of the stock were exchanged, compared to its average volume of 992,222. DT Midstream, Inc. has a twelve month low of $73.52 and a twelve month high of $114.50. The business has a 50-day moving average of $103.97 and a two-hundred day moving average of $100.47. 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 company has a market capitalization of $10.42 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.86 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million for the quarter, compared to analyst estimates 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 prior year, the company earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

Insider Buying and Selling

In related news, VP Melissa Cox sold 4,755 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company 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.