DT Midstream, Inc. $DTM Shares Sold by Deroy & Devereaux Private Investment Counsel Inc.

Key Points

• Deroy & Devereaux Private Investment Counsel Inc. reduced its stake in DT Midstream by 1.2%, owning 341,477 shares after selling 4,025 shares during the second quarter.
• DT Midstream announced a quarterly dividend of $0.82 per share, with a 3.0% yield, to be paid to investors of record on September 15th.
• Analysts have raised their target prices for DT Midstream, with Citigroup increasing their recommendation from $115.00 to $130.00, giving it a "buy" rating.

Deroy & Devereaux Private Investment Counsel Inc. cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 341,477 shares of the company's stock after selling 4,025 shares during the quarter. DT Midstream makes up approximately 2.0% of Deroy & Devereaux Private Investment Counsel Inc.'s investment portfolio, making the stock its 9th largest position. Deroy & Devereaux Private Investment Counsel Inc. owned approximately 0.34% of DT Midstream worth $37,532,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in DT Midstream in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new position in shares of DT Midstream during the 1st quarter worth approximately $26,000. Twin Tree Management LP acquired a new position in shares of DT Midstream during the 1st quarter worth approximately $29,000. Trust Co. of Toledo NA OH acquired a new position in shares of DT Midstream during the 2nd quarter worth approximately $38,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after buying an additional 123 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Up 0.1%

Shares of NYSE:DTM opened at $110.06 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $106.97 and a two-hundred day moving average of $103.39. The stock has a market cap of $11.18 billion, a P/E ratio of 29.51, a PEG ratio of 2.40 and a beta of 0.78. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $115.80.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The company had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. During the same period in the prior year, the business earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, research analysts expect 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 issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is 87.94%.

Wall Street Analysts Forecast Growth

DTM has been the subject of several research analyst reports. Mizuho upped their target price on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Citigroup upped their target price on DT Midstream from $115.00 to $130.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Barclays upped their target price on DT Midstream from $103.00 to $114.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 8th. Stifel Nicolaus set a $119.00 target price on DT Midstream in a research note on Tuesday. Finally, UBS Group upped their target price on DT Midstream from $115.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, October 3rd. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $115.08.

Insider Buying and Selling

In related 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 transaction of $496,754.85. Following the completion of the transaction, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. This trade represents a 47.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by company insiders.

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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