Element Capital Management LLC Purchases Shares of 27,769 DT Midstream, Inc. $DTM

Key Points

• Element Capital Management LLC has made a new investment of approximately $2.68 million in DT Midstream, acquiring 27,769 shares of the stock.
• DT Midstream recently reported quarterly earnings of $1.04 EPS, surpassing the consensus estimate of $0.98, with revenues of $299.00 million.
• The company announced a quarterly dividend of $0.82 per share, to be paid on October 15th, representing an annual yield of 3.2%.

Element Capital Management LLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 27,769 shares of the company's stock, valued at approximately $2,679,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Kovitz Investment Group Partners LLC grew its holdings in shares of DT Midstream by 45.5% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,118 shares of the company's stock valued at $494,000 after buying an additional 1,600 shares during the period. Cookson Peirce & Co. Inc. lifted its stake in DT Midstream by 36.3% in the first quarter. Cookson Peirce & Co. Inc. now owns 13,590 shares of the company's stock valued at $1,311,000 after buying an additional 3,623 shares in the last quarter. OneAscent Investment Solutions LLC bought a new position in DT Midstream in the first quarter valued at approximately $257,000. Vestmark Advisory Solutions Inc. lifted its stake in DT Midstream by 98.7% in the first quarter. Vestmark Advisory Solutions Inc. now owns 6,386 shares of the company's stock valued at $616,000 after buying an additional 3,172 shares in the last quarter. Finally, Sit Investment Associates Inc. lifted its stake in DT Midstream by 19.2% in the first quarter. Sit Investment Associates Inc. now owns 10,875 shares of the company's stock valued at $1,049,000 after buying an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on DTM shares. Stifel Nicolaus lifted their price target on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Barclays lifted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Wells Fargo & Company lifted their price target on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Morgan Stanley lifted their target price on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $110.91.

DT Midstream Stock Up 0.4%

Shares of NYSE DTM traded up $0.40 during mid-day trading on Wednesday, hitting $102.39. The company had a trading volume of 602,045 shares, compared to its average volume of 724,534. The company has a market capitalization of $10.40 billion, a PE ratio of 27.45, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The firm has a 50-day simple moving average of $104.03 and a two-hundred day simple moving average of $100.46. 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 one year low of $73.52 and a one year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. The company 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 quarter last year, the company earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

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

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction 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 sale, the vice president owned 5,171 shares in the company, valued at $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by corporate insiders.

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.