Invesco Ltd. Sells 46,435 Shares of DT Midstream, Inc. $DTM

Key Points

• Invesco Ltd. reduced its stake in DT Midstream, Inc. by 3.1% in the first quarter, after selling 46,435 shares, retaining 1,441,466 shares valued at approximately $139 million.
• Blackstone Inc. significantly increased its holdings by 2,783.1%, acquiring 1,574,705 shares, now totaling 1,631,285 shares worth $162 million.
• DT Midstream will pay a quarterly dividend of $0.82 on October 15, resulting in an annualized dividend of $3.28 with a yield of 3.2%.

Invesco Ltd. cut its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,441,466 shares of the company's stock after selling 46,435 shares during the period. Invesco Ltd. owned 1.42% of DT Midstream worth $139,073,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in DT Midstream in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in DT Midstream in the first quarter valued at approximately $26,000. Bessemer Group Inc. boosted its holdings in DT Midstream by 61.6% in the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Versant Capital Management Inc boosted its holdings in DT Midstream by 130.2% in the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after acquiring an additional 276 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in DT Midstream by 50.3% in the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock valued at $70,000 after acquiring an additional 242 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Insider Transactions at DT Midstream

In related 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 transaction of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares in the company, valued at approximately $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on DTM. Barclays upped their target price on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Wells Fargo & Company boosted their price target on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley boosted their price target on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Stifel Nicolaus boosted their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, DT Midstream has a consensus rating of "Hold" and a consensus target price of $110.91.

DT Midstream Stock Down 0.4%

Shares of NYSE:DTM traded down $0.38 during trading on Tuesday, reaching $101.57. 104,365 shares of the stock were exchanged, compared to its average volume of 1,000,178. 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, Inc. has a 1-year low of $73.52 and a 1-year high of $114.50. The stock has a fifty day moving average of $104.15 and a two-hundred day moving average of $100.44. The firm has a market cap of $10.32 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the prior year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.2%. DT Midstream's dividend payout ratio is 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.