DT Midstream, Inc. $DTM Shares Acquired by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its investment in DT Midstream by 234.4% in Q2, resulting in holdings valued at approximately $1.5 million.
• Analysts have set new price targets for DT Midstream, with Citigroup raising its target to $130.00 and forecasting a consensus rating of "Hold" with an average target price of $115.08.
• DT Midstream recently declared a quarterly dividend of $0.82 per share, with a yield of 3.1% and a dividend payout ratio of 87.94%.

First Citizens Bank & Trust Co. grew its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 234.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,632 shares of the company's stock after purchasing an additional 9,555 shares during the period. First Citizens Bank & Trust Co.'s holdings in DT Midstream were worth $1,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of DT Midstream in the 1st quarter valued at $25,000. Alpine Bank Wealth Management purchased a new stake in shares of DT Midstream in the 1st quarter valued at $26,000. Twin Tree Management LP purchased a new stake in shares of DT Midstream in the 1st quarter valued at $29,000. Trust Co. of Toledo NA OH purchased a new stake in shares of DT Midstream in the 2nd quarter valued at $38,000. Finally, Geneos Wealth Management Inc. raised its holdings in shares of DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock valued at $42,000 after buying an additional 123 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on DTM. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $114.00 to $118.00 and gave the company a "neutral" rating in a report on Monday, September 29th. UBS Group boosted their price objective on DT Midstream from $115.00 to $128.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Morgan Stanley boosted their price objective on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Mizuho boosted their price objective on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Finally, Citigroup upped their price target on DT Midstream from $115.00 to $130.00 and gave the stock a "buy" rating in a report on Thursday, October 9th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $115.08.

Insider Activity

In other news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction dated Monday, August 11th. The stock was 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 directly owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company's stock.

DT Midstream Price Performance

Shares of NYSE DTM opened at $105.90 on Friday. The stock's 50-day moving average is $107.68 and its two-hundred day moving average is $104.05. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $115.80. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 28.39, a price-to-earnings-growth ratio of 2.37 and a beta of 0.78.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate 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 business earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, September 15th. DT Midstream's dividend payout ratio is currently 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.

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