DT Midstream, Inc. $DTM Shares Bought by Jennison Associates LLC

Key Points

• Jennison Associates LLC increased its stake in DT Midstream by 4.3% in the first quarter, buying 10,637 additional shares and bringing its holdings to 258,277 shares worth about $34.8 million.
• DT Midstream continues to attract institutional interest, with 81.53% of the stock owned by institutions and hedge funds. Several other firms also added positions in the company.
• The company beat quarterly expectations, reporting $1.27 EPS and $336 million in revenue, and it also paid a $0.88 quarterly dividend for an annualized yield of about 2.4%.

Jennison Associates LLC grew its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 258,277 shares of the company's stock after buying an additional 10,637 shares during the period. Jennison Associates LLC owned 0.25% of DT Midstream worth $34,782,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC acquired a new position in DT Midstream in the fourth quarter valued at $28,000. Richardson Financial Services Inc. increased its stake in DT Midstream by 62.7% during the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company's stock worth $29,000 after acquiring an additional 94 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in DT Midstream during the fourth quarter worth about $30,000. WFA of San Diego LLC purchased a new position in shares of DT Midstream in the 2nd quarter worth about $33,000. Finally, Commonwealth Retirement Investments LLC acquired a new position in shares of DT Midstream in the 4th quarter valued at about $36,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DTM shares. Mizuho boosted their target price on DT Midstream from $129.00 to $153.00 and gave the stock a "neutral" rating in a report on Tuesday, May 5th. Citigroup lifted their price target on shares of DT Midstream from $156.00 to $169.00 and gave the company a "buy" rating in a research report on Monday, May 4th. Scotiabank began coverage on shares of DT Midstream in a research note on Tuesday, May 26th. They set an "outperform" rating and a $176.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $146.00 to $154.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen raised shares of DT Midstream from a "sell" rating to a "hold" rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $155.69.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $144.17 on Tuesday. The company has a market cap of $14.71 billion, a P/E ratio of 31.90, a PEG ratio of 3.15 and a beta of 0.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.26 and a current ratio of 1.26. DT Midstream, Inc. has a one year low of $98.06 and a one year high of $152.88. The business's 50-day simple moving average is $145.16 and its 200 day simple moving average is $136.57.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.16. The firm had revenue of $336.00 million during the quarter, compared to analysts' expectations of $313.65 million. DT Midstream had a return on equity of 9.53% and a net margin of 36.28%.During the same quarter in the prior year, the business earned $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. On average, sell-side analysts forecast that DT Midstream, Inc. will post 4.77 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, June 15th. DT Midstream's payout ratio is presently 77.88%.

DT Midstream Profile

DT Midstream Inc NYSE: DTM is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.

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