DT Midstream, Inc. $DTM Shares Sold by Zimmer Partners LP

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 reduced its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 729,629 shares of the company's stock after selling 20,371 shares during the quarter. DT Midstream accounts for 1.3% of Zimmer Partners LP's investment portfolio, making the stock its 24th biggest holding. Zimmer Partners LP owned about 0.72% of DT Midstream worth $70,395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of DTM. BNP Paribas Financial Markets purchased a new position in shares of DT Midstream in the 4th quarter valued at approximately $1,982,000. Centiva Capital LP purchased a new stake in shares of DT Midstream in the fourth quarter valued at approximately $373,000. Cetera Investment Advisers boosted its stake in shares of DT Midstream by 7.0% in the fourth quarter. Cetera Investment Advisers now owns 77,139 shares of the company's stock valued at $7,670,000 after buying an additional 5,073 shares in the last quarter. Cresset Asset Management LLC boosted its stake in shares of DT Midstream by 4.4% in the fourth quarter. Cresset Asset Management LLC now owns 6,122 shares of the company's stock valued at $613,000 after buying an additional 260 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in shares of DT Midstream by 1.0% in the fourth quarter. Ensign Peak Advisors Inc now owns 37,127 shares of the company's stock valued at $3,692,000 after buying an additional 385 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on DTM. Mizuho lifted their price target on 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 price target on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley lifted their price target on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Barclays lifted their price target on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus lifted their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Six 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. Based on data from MarketBeat, DT Midstream presently has an average rating of "Hold" and a consensus target price of $110.67.

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 value of $496,754.85. Following the completion of 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company's stock.

DT Midstream Price Performance

DTM stock traded down $0.07 during midday trading on Friday, hitting $107.27. 474,326 shares of the stock were exchanged, compared to its average volume of 648,950. The stock's 50-day moving average price is $103.25 and its 200-day moving average price is $101.02. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 28.76, a PEG ratio of 2.35 and a beta of 0.77. DT Midstream, Inc. has a fifty-two week low of $75.56 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.06. The firm had revenue of $299.00 million during the quarter, compared to analysts' expectations 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 in the previous year, the firm posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

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 paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.1%. DT Midstream's payout ratio is presently 87.94%.

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.