Hsbc Holdings PLC Buys New Stake in DT Midstream, Inc. $DTM

Key Points

• HSBC Holdings PLC acquired a new stake in DT Midstream, Inc. by purchasing 43,005 shares, valued at approximately $4.12 million.
• Analysts have mixed ratings for DT Midstream, with six rated as a Buy and a consensus target price of $110.91.
• DT Midstream announced a quarterly dividend of $0.82 per share, representing an annualized dividend of $3.28 and a yield of 3.2%.

Hsbc Holdings PLC bought a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 43,005 shares of the company's stock, valued at approximately $4,117,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its position in 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 acquiring an additional 669 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in DT Midstream during the first quarter valued at approximately $274,000. Bessemer Group Inc. lifted its position in 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 acquiring an additional 135 shares during the last quarter. True Link Financial Advisors LLC purchased a new stake in DT Midstream during the first quarter valued at approximately $238,000. Finally, Catalyst Capital Advisors LLC lifted its position in 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 acquiring an additional 13,243 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Morgan Stanley increased their target price 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. Barclays increased their target price on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus raised their price target on shares of 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 target 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 analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $110.91.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the sale, the vice president 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 transaction 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 insiders.

DT Midstream Trading Up 1.3%

NYSE DTM opened at $102.10 on Wednesday. The company has a fifty day simple moving average of $103.76 and a two-hundred day simple moving average of $100.45. The stock has a market cap of $10.37 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.83 and a beta of 0.77. DT Midstream, Inc. has a 12-month low of $73.52 and a 12-month high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last posted 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. The business had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter last year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid 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 3.2%. DT Midstream's dividend payout ratio is presently 87.94%.

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.

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