DT Midstream, Inc. $DTM Shares Purchased by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. increased its stake in DT Midstream by 2.5%, holding 173,440 shares valued at approximately $19.06 million.
• DT Midstream announced a quarterly dividend of $0.82 per share, translating to an annualized dividend of $3.28 and a yield of 2.9%.
• The company reported an earnings per share of $1.04 for the last quarter, exceeding estimates, with projected FY 2025 EPS guidance of 4.050-4.450.

Hennessy Advisors Inc. raised its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 173,440 shares of the company's stock after buying an additional 4,200 shares during the quarter. Hennessy Advisors Inc. owned about 0.17% of DT Midstream worth $19,063,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in DT Midstream during the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in shares of DT Midstream during the first quarter worth $26,000. Twin Tree Management LP acquired a new stake in shares of DT Midstream during the first quarter worth $29,000. Geneos Wealth Management Inc. boosted its holdings in shares of DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after purchasing an additional 123 shares during the last quarter. Finally, Bessemer Group Inc. boosted its holdings in shares of 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. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Trading Up 1.1%

Shares of DTM opened at $114.65 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $11.65 billion, a P/E ratio of 30.74, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. The stock's fifty day simple moving average is $105.68 and its 200 day simple moving average is $102.71. DT Midstream, Inc. has a twelve month low of $82.39 and a twelve month high of $115.35.

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

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is 87.94%.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised their price objective on DT Midstream from $114.00 to $118.00 and gave the stock a "neutral" rating in a report on Monday, September 29th. UBS Group raised their price objective on DT Midstream from $115.00 to $128.00 and gave the stock a "buy" rating in a report on Friday. Mizuho raised their price objective on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Finally, Morgan Stanley raised their price objective on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Seven research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $112.00.

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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