Zimmer Partners LP Cuts Position in DT Midstream, Inc. $DTM

Key Points

• Zimmer Partners LP has reduced its stake in DT Midstream by 2.7%, now holding approximately 729,629 shares, making it the 24th largest holding in their portfolio.
• DT Midstream's stock received multiple price target increases from analysts, with Wells Fargo raising it to $117.00 and Morgan Stanley to $118.00, reflecting a generally positive outlook.
• The company announced a quarterly dividend of $0.82 per share, which will be paid on October 15th, representing an annualized yield of 3.1% and a payout ratio of 87.94%.

Zimmer Partners LP lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 729,629 shares of the company's stock after selling 20,371 shares during the period. DT Midstream makes up approximately 1.3% of Zimmer Partners LP's portfolio, making the stock its 24th biggest holding. Zimmer Partners LP owned 0.72% of DT Midstream worth $70,395,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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. Tortoise Capital Advisors L.L.C. grew its holdings in 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 valued at $152,712,000 after purchasing an additional 282,870 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in DT Midstream by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company's stock valued at $119,326,000 after purchasing an additional 131,138 shares during the last quarter. Northern Trust Corp grew its holdings in DT Midstream by 8.9% in the first quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock valued at $111,615,000 after purchasing an additional 94,470 shares during 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. Institutional investors and hedge funds own 81.53% of the company's stock.

Insiders Place Their Bets

In related news, VP Melissa Cox sold 4,755 shares of the 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 transaction, the vice president directly owned 5,171 shares in the company, valued at approximately $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DTM. Stifel Nicolaus upped their target price on 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 DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Morgan Stanley upped their target price on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Barclays upped their target price 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, Wells Fargo & Company upped their target price on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $110.67.

DT Midstream Price Performance

Shares of NYSE:DTM traded down $0.07 on Friday, hitting $107.27. The company had a trading volume of 474,326 shares, compared to its average volume of 972,675. 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 52-week low of $75.56 and a 52-week high of $114.50. The business has a 50 day moving average of $103.23 and a 200 day moving average of $100.84. The company has a market cap of $10.90 billion, a PE ratio of 28.76, a PEG ratio of 2.34 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last released 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. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The firm had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same period in the prior year, the business posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, equities analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share 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 given a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.1%. DT Midstream's dividend payout ratio is 87.94%.

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.