Cookson Peirce & Co. Inc. Raises Holdings in DT Midstream, Inc. $DTM

Key Points

• Cookson Peirce & Co. Inc. boosted its stake in DT Midstream, Inc. by 36.3% in Q1, owning 13,590 shares worth approximately $1.31 million.
• Analysts have mixed ratings on DT Midstream, with current price targets ranging from $102.00 to $118.00, and an average rating of "Hold."
• DT Midstream announced a quarterly dividend of $0.82, marking an annualized yield of 3.2% and a payout ratio of 87.94%.

Cookson Peirce & Co. Inc. lifted its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 36.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,590 shares of the company's stock after buying an additional 3,623 shares during the period. Cookson Peirce & Co. Inc.'s holdings in DT Midstream were worth $1,311,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in DT Midstream by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after acquiring an additional 621,183 shares in the last quarter. Deutsche Bank AG boosted 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 acquiring an additional 147,790 shares in the last quarter. Blackstone Inc. boosted its position in DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after acquiring an additional 1,574,705 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in DT Midstream by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock valued at $110,790,000 after acquiring an additional 5,218 shares in the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in DT Midstream by 108.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after acquiring an additional 564,899 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus boosted their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Morgan Stanley boosted 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. Finally, Barclays boosted their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, DT Midstream has a consensus rating of "Hold" and an average target price of $110.91.

Insider Activity at DT Midstream

In related news, VP Melissa Cox sold 4,755 shares of the stock in a transaction dated Monday, August 11th. The shares were 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 owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

DT Midstream Stock Performance

DTM traded down $0.2620 during mid-day trading on Tuesday, reaching $101.6880. 289,645 shares of the company traded hands, compared to its average volume of 1,001,227. The stock has a market capitalization of $10.33 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.87 and a beta of 0.77. 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 company's fifty day moving average price is $104.15 and its 200-day moving average price is $100.44. DT Midstream, Inc. has a 52-week low of $73.52 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued 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. The company had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the prior year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, sell-side analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

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.