AQR Capital Management LLC Has $77.25 Million Position in DT Midstream, Inc. $DTM

Key Points

• AQR Capital Management LLC significantly increased its holdings in DT Midstream by 59.9% during the first quarter, acquiring an additional 301,355 shares to own approximately 0.79% of the company, valued at $77.25 million.
• A quarterly dividend of $0.82 will be paid on October 15th, representing a 3.1% yield based on an annualized amount of $3.28.
• Wall Street analysts have set a consensus target price of $110.67 for DT Midstream, with recent upgrades from analysts like Wells Fargo and Mizuho.

AQR Capital Management LLC raised its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 59.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 804,745 shares of the company's stock after purchasing an additional 301,355 shares during the quarter. AQR Capital Management LLC owned approximately 0.79% of DT Midstream worth $77,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Algert Global LLC acquired a new stake in shares of DT Midstream in the fourth quarter valued at $1,171,000. BNP Paribas Financial Markets bought a new stake in DT Midstream during the 4th quarter worth about $1,982,000. Centiva Capital LP acquired a new stake in DT Midstream in the 4th quarter valued at about $373,000. Cetera Investment Advisers raised its stake in shares of DT Midstream by 7.0% in the fourth quarter. Cetera Investment Advisers now owns 77,139 shares of the company's stock worth $7,670,000 after acquiring an additional 5,073 shares during the last quarter. Finally, Cresset Asset Management LLC raised its stake in shares of DT Midstream by 4.4% in the fourth quarter. Cresset Asset Management LLC now owns 6,122 shares of the company's stock worth $613,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Insider Transactions at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the 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 sale, the vice president directly owned 5,171 shares in the company, 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 SEC, which is accessible through the SEC website. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

DTM has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley increased their price objective on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Stifel Nicolaus boosted their target price on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Barclays upped their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Mizuho lifted their price objective on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, DT Midstream currently has a consensus rating of "Hold" and a consensus price target of $110.67.

DT Midstream Trading Up 0.1%

Shares of DTM stock traded up $0.13 during trading hours on Thursday, reaching $107.20. The company had a trading volume of 582,006 shares, compared to its average volume of 659,157. DT Midstream, Inc. has a 1-year low of $74.46 and a 1-year high of $114.50. 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 $10.89 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.34 and a beta of 0.77. The company has a 50 day moving average of $103.23 and a 200 day moving average of $100.84.

DT Midstream (NYSE:DTM - Get Free Report) last released 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. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.1%. DT Midstream's dividend payout ratio (DPR) is presently 87.94%.

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.