DT Midstream, Inc. $DTM Shares Sold by Empowered Funds LLC

Key Points

• Empowered Funds LLC reduced its stake in DT Midstream by 5.9%, selling 3,826 shares and holding 60,858 shares valued at $5.87 million at the end of the first quarter.
• DT Midstream announced a quarterly dividend of $0.82, representing an annualized yield of 3.1% and a payout ratio of 87.94%.
• The company exceeded earnings expectations with an EPS of $1.04 for the last quarter and has set FY 2025 guidance at $4.050-4.450 EPS.

Empowered Funds LLC decreased its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,858 shares of the company's stock after selling 3,826 shares during the period. Empowered Funds LLC owned about 0.06% of DT Midstream worth $5,872,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. United Services Automobile Association acquired a new position in DT Midstream during the 1st quarter worth about $618,000. Aristeia Capital L.L.C. acquired a new position in DT Midstream during the 1st quarter worth about $401,000. Dynamic Technology Lab Private Ltd increased its holdings in DT Midstream by 70.1% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 13,320 shares of the company's stock worth $1,285,000 after purchasing an additional 5,490 shares during the period. Scientech Research LLC purchased a new stake in DT Midstream during the 1st quarter worth about $1,455,000. Finally, Palo Duro Investment Partners LP increased its holdings in DT Midstream by 26.2% during the 1st quarter. Palo Duro Investment Partners LP now owns 6,609 shares of the company's stock worth $638,000 after purchasing an additional 1,371 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Insider Buying and Selling 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 stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares in the company, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

DTM has been the topic of several recent research reports. Morgan Stanley upped their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Stifel Nicolaus upped their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Mizuho increased their price objective on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Wells Fargo & Company increased their price objective on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Barclays increased their price objective on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, DT Midstream has a consensus rating of "Hold" and an average target price of $110.67.

DT Midstream Stock Performance

NYSE:DTM traded up $0.67 during mid-day trading on Wednesday, reaching $105.37. 98,069 shares of the stock were exchanged, compared to its average volume of 963,970. The company has a 50 day simple moving average of $103.32 and a 200-day simple moving average of $101.12. The stock has a market capitalization of $10.70 billion, a P/E ratio of 28.31, a P/E/G ratio of 2.32 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. DT Midstream, Inc. has a 1 year low of $76.13 and a 1 year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results 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. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same period last year, the business posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

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