Eagle Global Advisors LLC Sells 21,070 Shares of DT Midstream, Inc. $DTM

Key Points

• Eagle Global Advisors LLC reduced its stake in DT Midstream by 4.3%, selling 21,070 shares during the second quarter and holding about $51 million worth of the stock.
• Analysts have raised their price targets for DT Midstream stock, with Wells Fargo setting it at $117.00 and Stifel Nicolaus at $108.00, while the consensus rating remains at "Hold."
• DT Midstream announced a quarterly dividend of $0.82 per share to be paid on October 15th, representing an annualized yield of 2.9%.

Eagle Global Advisors LLC reduced its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 464,395 shares of the company's stock after selling 21,070 shares during the quarter. DT Midstream makes up approximately 2.1% of Eagle Global Advisors LLC's investment portfolio, making the stock its 13th biggest position. Eagle Global Advisors LLC owned approximately 0.46% of DT Midstream worth $51,042,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of DTM. Vanguard Group Inc. raised its holdings in DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock worth $1,078,161,000 after purchasing an additional 621,183 shares during the period. GAMMA Investing LLC raised its holdings in DT Midstream by 9,693.3% in the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock worth $37,652,000 after purchasing an additional 386,277 shares during the period. Jane Street Group LLC raised its holdings in DT Midstream by 1,699.5% during the first quarter. Jane Street Group LLC now owns 401,170 shares of the company's stock valued at $38,705,000 after acquiring an additional 378,877 shares during the period. Nuveen LLC bought a new stake in DT Midstream during the first quarter valued at about $33,529,000. Finally, HITE Hedge Asset Management LLC bought a new stake in DT Midstream during the first quarter valued at about $31,139,000. 81.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on DTM. Stifel Nicolaus raised their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, August 1st. Wells Fargo & Company raised their price target on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Morgan Stanley raised their price target on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Finally, Mizuho raised their price target on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $110.67.

Insider Buying and Selling

In related news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction that occurred on 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 $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

DT Midstream Trading Up 2.1%

DTM opened at $113.48 on Friday. The firm has a market cap of $11.53 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.43 and a beta of 0.77. DT Midstream, Inc. has a 12 month low of $76.91 and a 12 month high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $104.30 and a 200 day moving average of $102.07.

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

DT Midstream Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.9%. DT Midstream's payout ratio is 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.

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