Energy Income Partners LLC Buys 11,960 Shares of DT Midstream, Inc. $DTM

Key Points

• Energy Income Partners LLC increased its holdings in DT Midstream, Inc. by 1.6%, now owning 776,587 shares, which represent about 1.4% of its total portfolio.
• Several analysts have raised their target prices for DT Midstream, with Wells Fargo increasing it from $108.00 to $117.00 and maintaining an "overweight" rating.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, which yields approximately 3.1%, with a payout ratio of 87.94%.

Energy Income Partners LLC boosted its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 1.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 776,587 shares of the company's stock after buying an additional 11,960 shares during the period. DT Midstream accounts for approximately 1.4% of Energy Income Partners LLC's portfolio, making the stock its 23rd largest position. Energy Income Partners LLC owned 0.76% of DT Midstream worth $74,925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. CWM LLC increased its stake in shares of DT Midstream by 18.9% during the first quarter. CWM LLC now owns 4,201 shares of the company's stock valued at $405,000 after purchasing an additional 669 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of DT Midstream during the first quarter valued at approximately $274,000. Bessemer Group Inc. increased its stake in shares of DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 135 shares in the last quarter. True Link Financial Advisors LLC bought a new position in shares of DT Midstream during the first quarter valued at approximately $238,000. Finally, Catalyst Capital Advisors LLC increased its stake in shares of DT Midstream by 10.1% during the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock valued at $13,896,000 after purchasing an additional 13,243 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on DTM shares. Stifel Nicolaus raised their price target on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Morgan Stanley raised their price target on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Mizuho raised their price target on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Barclays raised their target price on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Finally, Wells Fargo & Company raised their target price on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $110.67.

Insider Buying and Selling at DT Midstream

In related news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction dated 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 directly owned 5,171 shares in the company, valued at approximately $540,214.37. This represents a 47.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

DT Midstream Price Performance

Shares of DTM traded up $0.87 during trading hours on Thursday, reaching $105.43. 707,079 shares of the stock traded hands, compared to its average volume of 983,091. 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 company has a market cap of $10.71 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 1.89 and a beta of 0.77. The company's 50-day moving average price is $103.45 and its two-hundred day moving average price is $100.60. DT Midstream, Inc. has a 52-week low of $73.52 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same period 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, analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.1%. 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.