Geode Capital Management LLC Has $288.19 Million Position in DT Midstream, Inc. $DTM

Key Points

• Geode Capital Management increased its stake in DT Midstream by 4.6% in the fourth quarter, bringing its holdings to 2.41 million shares worth about $288.19 million.
• Other major institutional investors also boosted or initiated positions, and overall institutional ownership stands at 81.53% of the company’s stock.
• DT Midstream reported strong quarterly results with EPS of $1.27 versus $1.11 expected and revenue of $336 million above estimates, while also declaring a quarterly dividend of $0.88 per share.

Geode Capital Management LLC grew its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,407,612 shares of the company's stock after buying an additional 106,533 shares during the period. Geode Capital Management LLC owned approximately 2.37% of DT Midstream worth $288,191,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Nordea Investment Management AB acquired a new position in DT Midstream in the fourth quarter worth about $1,371,000. JPMorgan Chase & Co. raised its position in DT Midstream by 7.8% in the third quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company's stock worth $98,538,000 after purchasing an additional 63,438 shares in the last quarter. Principal Financial Group Inc. raised its position in DT Midstream by 2.6% in the fourth quarter. Principal Financial Group Inc. now owns 513,541 shares of the company's stock worth $61,462,000 after purchasing an additional 13,212 shares in the last quarter. Bahl & Gaynor Inc. raised its position in DT Midstream by 2.5% in the third quarter. Bahl & Gaynor Inc. now owns 568,445 shares of the company's stock worth $64,268,000 after purchasing an additional 14,127 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in DT Midstream by 139.8% in the fourth quarter. SG Americas Securities LLC now owns 62,986 shares of the company's stock worth $7,538,000 after purchasing an additional 36,722 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Wall Street Analyst Weigh In

DTM has been the subject of several recent research reports. Jefferies Financial Group reissued a "buy" rating and issued a $166.00 price target on shares of DT Midstream in a research report on Friday, May 1st. The Goldman Sachs Group increased their price target on shares of DT Midstream from $111.00 to $127.00 and gave the stock a "sell" rating in a research report on Monday, April 20th. Weiss Ratings lowered shares of DT Midstream from a "buy (a)" rating to a "buy (a-)" rating in a research report on Wednesday, May 20th. UBS Group increased their price target on shares of DT Midstream from $152.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, May 15th. Finally, Morgan Stanley raised their price objective on shares of DT Midstream from $165.00 to $170.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $154.46.

DT Midstream Stock Performance

NYSE DTM opened at $138.53 on Tuesday. The firm has a market cap of $14.13 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 3.08 and a beta of 0.72. The company has a 50 day moving average of $139.50 and a 200-day moving average of $130.22. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. DT Midstream, Inc. has a 1-year low of $98.06 and a 1-year high of $152.88.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.16. The business had revenue of $336.00 million during the quarter, compared to analyst estimates of $313.65 million. DT Midstream had a net margin of 36.28% and a return on equity of 9.53%. During the same quarter last year, the business posted $1.06 earnings per share. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. On average, equities analysts forecast that DT Midstream, Inc. will post 4.7 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. DT Midstream's dividend payout ratio (DPR) is presently 77.88%.

DT Midstream Company Profile

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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