DT Midstream, Inc. $DTM Shares Acquired by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System increased its holdings in DT Midstream by 6.6% in Q2, owning 96,483 shares valued at approximately $10.6 million.
• DT Midstream reported a Q2 EPS of $1.04, exceeding analysts' estimates, with revenue of $299 million, and provided FY 2025 guidance of 4.050-4.450 EPS.
• The company announced a quarterly dividend of $0.82, with an ex-dividend date of September 15th, representing an annualized yield of 2.9%.

Maryland State Retirement & Pension System grew its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,483 shares of the company's stock after buying an additional 6,014 shares during the quarter. Maryland State Retirement & Pension System owned about 0.09% of DT Midstream worth $10,604,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DTM. CWM LLC raised its holdings in DT Midstream by 18.9% during the first quarter. CWM LLC now owns 4,201 shares of the company's stock worth $405,000 after purchasing an additional 669 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in DT Midstream during the first quarter worth $274,000. Bessemer Group Inc. raised its holdings in DT Midstream by 44.0% during 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 last quarter. True Link Financial Advisors LLC acquired a new position in DT Midstream during the first quarter worth $238,000. Finally, Catalyst Capital Advisors LLC raised its holdings in DT Midstream by 10.1% during the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock worth $13,896,000 after purchasing an additional 13,243 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream 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 completion of the sale, 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 at the SEC website. 0.34% of the stock is currently owned by corporate insiders.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $114.76 on Thursday. The company has a market cap of $11.66 billion, a P/E ratio of 30.77, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 52 week low of $82.94 and a 52 week high of $115.80. The business has a fifty day simple moving average of $106.51 and a 200-day simple moving average of $103.05.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million during 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 previous year, the business earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 2.9%. DT Midstream's payout ratio is currently 87.94%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DTM shares. Barclays lifted their price objective on DT Midstream from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of DT Midstream in a report on Wednesday. JPMorgan Chase & Co. raised their price target on DT Midstream from $114.00 to $118.00 and gave the stock a "neutral" rating in a research report on Monday, September 29th. Stifel Nicolaus raised their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company raised their price target on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $112.92.

About DT Midstream

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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