Fort Washington Investment Advisors Inc. OH Makes New $5.22 Million Investment in DT Midstream, Inc. $DTM

Key Points

• Fort Washington Investment Advisors Inc. has made a new investment in DT Midstream, acquiring 47,466 shares valued at approximately $5.22 million in the second quarter.
• DT Midstream recently announced a quarterly dividend of $0.82, which will be paid on October 15th, representing a 2.9% dividend yield.
• The company's quarterly earnings exceeded analysts' expectations, reporting $1.04 EPS compared to the consensus of $0.98, with revenue of $299 million for the quarter.

Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 47,466 shares of the company's stock, valued at approximately $5,217,000.

Other hedge funds have also recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new position in DT Midstream during the fourth quarter valued at approximately $242,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of DT Midstream by 26.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,830 shares of the company's stock worth $1,176,000 after purchasing an additional 2,510 shares during the period. Versant Capital Management Inc increased its holdings in shares of DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after purchasing an additional 276 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of DT Midstream by 9,693.3% in the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock valued at $37,652,000 after purchasing an additional 386,277 shares during the period. Finally, Rhumbline Advisers boosted its holdings in DT Midstream by 2.2% during the first quarter. Rhumbline Advisers now owns 290,646 shares of the company's stock worth $28,041,000 after buying an additional 6,118 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $113.48 on Monday. The stock has a market capitalization of $11.53 billion, a P/E ratio of 30.42, a PEG ratio of 2.48 and a beta of 0.77. The business has a 50 day simple moving average of $104.30 and a two-hundred day simple moving average of $102.19. DT Midstream, Inc. has a 12 month low of $76.91 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. During the same period in the previous year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal 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 given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of the firm's stock in a transaction dated Monday, August 11th. The shares were 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 of the company's stock, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

DTM has been the subject of a number of recent analyst reports. Morgan Stanley lifted their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Mizuho lifted their price target on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. 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. Finally, Wells Fargo & Company raised 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. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $110.67.

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.

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