DT Midstream, Inc. $DTM Shares Acquired by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its holdings in DT Midstream, Inc. by 2,560.3% in Q2, owning 4,150 shares valued at $456,000 after purchasing an additional 3,994 shares.
• DT Midstream announced a quarterly dividend of $0.82 per share to be paid on October 15th, translating to an annualized dividend of $3.28 with a yield of 3.0%.
• The company's Q2 earnings exceeded analyst expectations, reporting $1.04 earnings per share, surpassing the consensus estimate of $0.98.

Bayforest Capital Ltd grew its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2,560.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,150 shares of the company's stock after buying an additional 3,994 shares during the period. Bayforest Capital Ltd's holdings in DT Midstream were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after buying an additional 621,183 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of DT Midstream by 21.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company's stock valued at $152,712,000 after buying an additional 282,870 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of DT Midstream by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company's stock valued at $119,326,000 after buying an additional 131,138 shares during the last quarter. Northern Trust Corp raised its position in shares of DT Midstream by 8.9% in the first quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock valued at $111,615,000 after buying an additional 94,470 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of DT Midstream by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock valued at $110,790,000 after buying an additional 5,218 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Trading Up 0.1%

Shares of DTM stock opened at $110.06 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $11.18 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. The company has a 50-day moving average of $106.97 and a two-hundred day moving average of $103.39. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $115.80.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share 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 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 last year, the firm posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently announced 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 annualized dividend 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 87.94%.

Insiders Place Their Bets

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction dated 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 transaction, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DTM has been the subject of a number of analyst reports. Stifel Nicolaus set a $119.00 price objective on shares of DT Midstream in a report on Tuesday. Mizuho upped their price objective 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. Citigroup upped their price objective on shares of DT Midstream from $115.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Morgan Stanley upped their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company upped their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Seven 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 stock. According to data from MarketBeat, DT Midstream has an average rating of "Hold" and a consensus target price of $115.08.

DT Midstream Company 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.

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