DT Midstream, Inc. $DTM Stock Position Raised by Dynamic Technology Lab Private Ltd

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 lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 70.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 13,320 shares of the company's stock after buying an additional 5,490 shares during the period. Dynamic Technology Lab Private Ltd's holdings in DT Midstream were worth $1,285,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DTM. Ballentine Partners LLC increased its holdings in DT Midstream by 4.8% in the first quarter. Ballentine Partners LLC now owns 2,498 shares of the company's stock valued at $241,000 after buying an additional 114 shares in the last quarter. Independent Advisor Alliance increased its holdings in DT Midstream by 2.5% in the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company's stock valued at $455,000 after buying an additional 117 shares in the last quarter. Bessemer Group Inc. increased its holdings in DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after buying an additional 135 shares in the last quarter. Applied Finance Capital Management LLC increased its holdings in DT Midstream by 6.5% in the first quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company's stock valued at $233,000 after buying an additional 147 shares in the last quarter. Finally, Secure Asset Management LLC increased its holdings in DT Midstream by 6.8% in the first quarter. Secure Asset Management LLC now owns 2,470 shares of the company's stock valued at $238,000 after buying an additional 157 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Mizuho raised their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Barclays raised 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 note on Tuesday, May 20th. Wells Fargo & Company raised their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley lifted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Finally, Stifel Nicolaus lifted their target price on shares of DT Midstream from $102.00 to $108.00 and gave the stock 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $110.67.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of the business's 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 sale, the vice president owned 5,171 shares of the company's stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company's stock.

DT Midstream Stock Up 0.1%

DT Midstream stock traded up $0.12 during midday trading on Friday, hitting $107.46. 272,740 shares of the stock were exchanged, compared to its average volume of 971,394. DT Midstream, Inc. has a 1 year low of $75.56 and a 1 year high of $114.50. The firm has a market cap of $10.92 billion, a P/E ratio of 28.76, a P/E/G ratio of 2.34 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The company has a 50 day moving average price of $103.23 and a two-hundred day moving average price of $100.84.

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, topping the consensus estimate of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The firm had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the previous 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 predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.82 dividend. 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 payout ratio is presently 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.