Gotham Asset Management LLC Raises Stock Holdings in DT Midstream, Inc. $DTM

Key Points

• Gotham Asset Management LLC increased its stake in DT Midstream, Inc. by 25.5% during the first quarter, holding 193,288 shares worth approximately $18.65 million.
• DT Midstream recently announced a quarterly dividend of $0.82, resulting in an annualized yield of 3.1%, with a dividend payout ratio of 87.94%.
• Wall Street analysts have a consensus rating of "Hold" for DT Midstream, with price targets ranging from $103 to $118.

Gotham Asset Management LLC grew its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 25.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,288 shares of the company's stock after purchasing an additional 39,222 shares during the period. Gotham Asset Management LLC owned approximately 0.19% of DT Midstream worth $18,648,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after purchasing an additional 621,183 shares during the period. Deutsche Bank AG grew its holdings in DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock worth $281,569,000 after acquiring an additional 147,790 shares during the period. Tortoise Capital Advisors L.L.C. grew its holdings in DT Midstream by 21.8% during the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company's stock worth $152,712,000 after acquiring an additional 282,870 shares during the period. Northern Trust Corp grew its holdings in DT Midstream by 8.9% during the first quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock worth $111,615,000 after acquiring an additional 94,470 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in DT Midstream by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock worth $110,790,000 after acquiring an additional 5,218 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Price Performance

DT Midstream stock traded up $0.39 during trading hours on Tuesday, hitting $104.92. The stock had a trading volume of 480,235 shares, compared to its average volume of 980,094. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 2.30 and a beta of 0.77. DT Midstream, Inc. has a 1-year low of $73.52 and a 1-year high of $114.50. The stock's fifty day moving average is $103.18 and its two-hundred day moving average is $100.69.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) 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 business had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same period in the prior year, the business earned $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 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio is currently 87.94%.

Insider Activity

In other news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction 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 sale, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.