Brasada Capital Management LP Trims Stock Position in DT Midstream, Inc. $DTM

Key Points

• Brasada Capital Management LP has reduced its holdings in DT Midstream, Inc. by 33%, leaving it with 10,520 shares valued at approximately $933,000.
• Significant institutional investments were made in DT Midstream, with Blackstone Inc. increasing its shares by over 2,783% during the last quarter, now holding 1,631,285 shares valued at $162.2 million.
• DT Midstream reported a quarterly earnings beat with $1.04 earnings per share, surpassing analyst estimates of $0.98, and has set a guidance for FY 2025 EPS between 4.050-4.450.

Brasada Capital Management LP cut its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 33.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,520 shares of the company's stock after selling 5,176 shares during the period. Brasada Capital Management LP's holdings in DT Midstream were worth $933,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTM. Vanguard Group Inc. increased its position in DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock worth $1,078,161,000 after acquiring an additional 621,183 shares during the period. Deutsche Bank AG increased its position in DT Midstream by 5.5% during the 4th quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after purchasing an additional 147,790 shares during the period. Blackstone Inc. boosted its holdings in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after acquiring an additional 1,574,705 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its stake in shares of DT Midstream by 21.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company's stock worth $152,712,000 after purchasing an additional 282,870 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in DT Midstream by 8.9% during the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock valued at $111,615,000 after acquiring an additional 94,470 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream 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 sale, the vice president owned 5,171 shares of the company's stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by company insiders.

DT Midstream Stock Performance

NYSE DTM traded up $1.02 on Wednesday, reaching $104.66. 727,362 shares of the stock were exchanged, compared to its average volume of 986,983. DT Midstream, Inc. has a one year low of $73.52 and a one year high of $114.50. The firm has a market capitalization of $10.63 billion, a PE ratio of 28.06, a PEG ratio of 1.89 and a beta of 0.77. The company's 50-day simple moving average is $103.50 and its two-hundred day simple moving average is $100.57. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The business had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. During the same period last year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced 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. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream's payout ratio is 87.94%.

Analyst Upgrades and Downgrades

DTM has been the subject of a number of recent analyst reports. Barclays boosted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Morgan Stanley lifted their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Mizuho boosted their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Wells Fargo & Company raised their target price on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus increased their price target on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Six investment 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's stock. According to data from MarketBeat, DT Midstream has an average rating of "Hold" and an average price target of $110.67.

DT Midstream Company 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.