Dynamic Technology Lab Private Ltd Raises Position in DT Midstream, Inc. $DTM

Key Points

• Dynamic Technology Lab Private Ltd increased its ownership in DT Midstream, Inc. by 70.1% in Q1, acquiring an additional 5,490 shares for a total holding of 13,320 shares worth $1.285 million.
• Several institutional investors, including Vanguard Group and Jane Street Group, significantly increased their positions in DT Midstream, with institutional ownership now at 81.53%.
• DT Midstream announced a quarterly dividend of $0.82 per share, with a dividend yield of 3.1%, and reported strong earnings of $1.04 per share for the last quarter, beating estimates.

Dynamic Technology Lab Private Ltd raised its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 70.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,320 shares of the company's stock after acquiring an additional 5,490 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in DT Midstream were worth $1,285,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in DT Midstream during the first quarter valued at $25,000. Alpine Bank Wealth Management bought a new stake in DT Midstream during the first quarter valued at $26,000. Twin Tree Management LP bought a new stake in DT Midstream during the first quarter valued at $29,000. Bessemer Group Inc. boosted its position in shares of DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in shares of DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Insider Activity at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $104.47, for a total transaction of $496,754.85. Following the transaction, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. This trade represents a 47.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

DT Midstream Stock Down 0.1%

Shares of DTM traded down $0.07 on Friday, reaching $107.27. The company's stock had a trading volume of 474,326 shares, compared to its average volume of 650,006. 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 twelve month low of $75.56 and a twelve month high of $114.50. The stock has a market capitalization of $10.90 billion, a PE ratio of 28.76, a PEG ratio of 2.35 and a beta of 0.77. The firm has a fifty day moving average of $103.25 and a 200-day moving average of $100.96.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping 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 company had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. During the same quarter in the prior year, the business posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. DT Midstream's dividend payout ratio (DPR) is currently 87.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays increased their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Morgan Stanley increased their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company increased their price objective on shares of 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 increased their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Mizuho increased their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and an average price target of $110.67.

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.