DT Midstream, Inc. $DTM Shares Sold by NBC Securities Inc.

Key Points

• NBC Securities Inc. reduced its stake in DT Midstream by 4.9%, now holding 53,028 shares, accounting for only 0.5% of its portfolio.
• DT Midstream reported earnings per share of $1.04 for the last quarter, surpassing analysts' expectations of $0.98.
• The company has declared a quarterly dividend of $0.82 per share, resulting in an annualized payout of $3.28 and a dividend yield of 3.1%.

NBC Securities Inc. decreased its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,028 shares of the company's stock after selling 2,730 shares during the period. DT Midstream comprises 0.5% of NBC Securities Inc.'s portfolio, making the stock its 26th largest holding. NBC Securities Inc. owned 0.05% of DT Midstream worth $5,828,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of DT Midstream by 5.9% during the 1st 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 in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in DT Midstream by 21.8% during 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in DT Midstream by 11.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company's stock worth $119,326,000 after purchasing an additional 131,138 shares during the last quarter. Northern Trust Corp boosted its position in DT Midstream by 8.9% during the first quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock worth $111,615,000 after purchasing an additional 94,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in DT Midstream by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock valued at $110,790,000 after purchasing an additional 5,218 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Price Performance

NYSE DTM opened at $107.27 on Monday. 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, Inc. has a 1 year low of $75.56 and a 1 year high of $114.50. The company has a market cap of $10.90 billion, a PE ratio of 28.76, a PEG ratio of 2.35 and a beta of 0.77. The stock's 50-day moving average price is $103.25 and its two-hundred day moving average price is $101.02.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $295.70 million. During the same quarter in the previous year, the business earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. DT Midstream's payout ratio is currently 87.94%.

Insiders Place Their Bets

In related news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares of the company's stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Stifel Nicolaus upped their price target on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, August 1st. Mizuho upped their target price on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Wells Fargo & Company lifted their target price on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Barclays boosted their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley increased their target price 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. Six 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 stock. According to MarketBeat.com, DT Midstream currently has an average rating of "Hold" and an average price target of $110.67.

DT Midstream 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.

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