Fifth Third Bancorp Purchases 36,463 Shares of DT Midstream, Inc. $DTM

Key Points

• Fifth Third Bancorp dramatically increased its stake in DT Midstream, buying 36,463 additional shares in the first quarter. Its holdings rose 1,992.5% to 38,293 shares, valued at about $5.16 million.
• Several analysts remain constructive on DT Midstream, with Jefferies and Citigroup both raising price targets and assigning buy ratings. The stock currently carries a Moderate Buy consensus with a target price of $155.69.
• DT Midstream reported strong quarterly results, beating EPS and revenue estimates, and also paid a quarterly dividend of $0.88 per share for a 2.4% annualized yield.

Fifth Third Bancorp increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 1,992.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,293 shares of the company's stock after buying an additional 36,463 shares during the period. Fifth Third Bancorp's holdings in DT Midstream were worth $5,157,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DTM. V Square Quantitative Management LLC bought a new position in shares of DT Midstream in the 4th quarter worth $28,000. Richardson Financial Services Inc. grew its position in shares of DT Midstream by 62.7% during the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company's stock worth $29,000 after buying an additional 94 shares during the period. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of DT Midstream during the 4th quarter worth about $30,000. WFA of San Diego LLC bought a new stake in shares of DT Midstream in the 2nd quarter valued at about $33,000. Finally, Commonwealth Retirement Investments LLC acquired a new stake in shares of DT Midstream in the 4th quarter valued at approximately $36,000. 81.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on DTM. Jefferies Financial Group boosted their price objective on shares of DT Midstream from $164.00 to $170.00 and gave the company a "buy" rating in a report on Thursday. Citigroup lifted their price target on shares of DT Midstream from $156.00 to $169.00 and gave the stock a "buy" rating in a research report on Monday, May 4th. Weiss Ratings cut shares of DT Midstream from a "buy (a)" rating to a "buy (a-)" rating in a research report on Wednesday, July 8th. The Goldman Sachs Group boosted their target price on DT Midstream from $111.00 to $127.00 and gave the company a "sell" rating in a research note on Monday, April 20th. Finally, Wall Street Zen raised DT Midstream from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, DT Midstream presently has an average rating of "Moderate Buy" and a consensus price target of $155.69.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $144.82 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of 32.04, a price-to-earnings-growth ratio of 3.19 and a beta of 0.71. The stock's 50-day moving average is $145.19 and its 200-day moving average is $136.30. DT Midstream, Inc. has a one year low of $98.06 and a one year high of $152.88.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.16. DT Midstream had a return on equity of 9.53% and a net margin of 36.28%.The business had revenue of $336.00 million for the quarter, compared to analyst estimates of $313.65 million. During the same quarter last year, the firm earned $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. Equities analysts predict that DT Midstream, Inc. will post 4.77 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were given a dividend of $0.88 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.52 annualized dividend and a dividend yield of 2.4%. DT Midstream's payout ratio is 77.88%.

About DT Midstream

DT Midstream Inc NYSE: DTM is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.

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