Exchange Traded Concepts LLC Sells 3,194 Shares of DT Midstream, Inc. $DTM

Key Points

• Exchange Traded Concepts LLC has reduced its holdings in DT Midstream by 2.9%, owning 108,305 shares valued at approximately $11.9 million after the sale.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, resulting in an annualized dividend of $3.28 and a yield of 3.0%.
• In its latest earnings report, DT Midstream reported $1.04 earnings per share, surpassing estimates, and is projecting a FY 2025 EPS of 4.050-4.450.

Exchange Traded Concepts LLC reduced its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 108,305 shares of the company's stock after selling 3,194 shares during the period. Exchange Traded Concepts LLC owned approximately 0.11% of DT Midstream worth $11,904,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in DT Midstream in the first quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in DT Midstream in the first quarter worth $26,000. Twin Tree Management LP acquired a new stake in DT Midstream in the first quarter worth $29,000. Geneos Wealth Management Inc. raised its holdings in DT Midstream by 39.3% in the first 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 period. Finally, Bessemer Group Inc. raised its holdings in DT Midstream by 44.0% in the first 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. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on DTM. Stifel Nicolaus increased their target price on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company increased their target price 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 increased their target price on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Finally, Morgan Stanley increased their target price on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $110.67.

Insiders Place Their Bets

In related news, VP Melissa Cox sold 4,755 shares of the firm's stock in a transaction on 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 owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company's stock.

DT Midstream Stock Up 0.4%

Shares of DTM stock traded up $0.43 during trading hours on Monday, hitting $107.82. 998,893 shares of the company were exchanged, compared to its average volume of 772,137. The business has a 50 day moving average of $103.66 and a two-hundred day moving average of $101.62. 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 52 week low of $76.91 and a 52 week high of $114.50. The company has a market capitalization of $10.95 billion, a PE ratio of 28.91, a PEG ratio of 2.35 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The company had revenue of $299.00 million during 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 in the prior year, the firm earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

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 given a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. DT Midstream's dividend payout ratio (DPR) is 87.94%.

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.