DT Midstream, Inc. $DTM Shares Bought by Jane Street Group LLC

Key Points

• Jane Street Group LLC significantly increased its stake in DT Midstream, Inc. by 1,699.5% during the first quarter, acquiring an additional 378,877 shares to bring its total holdings to 401,170 shares valued at $38.7 million.
• DT Midstream reported earnings of $1.04 per share for the last quarter, surpassing the consensus estimate by $0.06, and set its FY 2025 EPS guidance at 4.050-4.450.
• The company declared a quarterly dividend of $0.82, with an annualized dividend yield of 3.1%, payable on October 15th to investors of record by September 15th.

Jane Street Group LLC boosted its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 1,699.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 401,170 shares of the company's stock after acquiring an additional 378,877 shares during the period. Jane Street Group LLC owned about 0.39% of DT Midstream worth $38,705,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Zimmer Partners LP purchased a new stake in shares of DT Midstream during the 4th quarter worth $74,572,000. Vanguard Group Inc. lifted its holdings in DT Midstream by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock worth $1,078,161,000 after buying an additional 621,183 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in shares of DT Midstream by 108.8% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after acquiring an additional 564,899 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of DT Midstream by 9,693.3% during the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock worth $37,652,000 after acquiring an additional 386,277 shares in the last quarter. Finally, Nuveen LLC purchased a new position in shares of DT Midstream in the 1st quarter valued at about $33,529,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Performance

DT Midstream stock traded down $0.07 during midday trading on Friday, hitting $107.27. 474,326 shares of the company's stock were exchanged, compared to its average volume of 648,950. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77. DT Midstream, Inc. has a 12-month low of $75.56 and a 12-month high of $114.50. The firm's 50 day simple moving average is $103.25 and its 200 day simple moving average is $101.02.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. The company had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same period last year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently declared 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. The ex-dividend date is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. DT Midstream's dividend payout ratio (DPR) is currently 87.94%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DTM. Barclays boosted their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Morgan Stanley boosted their price target 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. Wells Fargo & Company upped their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Mizuho raised 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 boosted their target price on DT Midstream from $102.00 to $108.00 and gave the company 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 assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $110.67.

Insider Activity

In related news, VP Melissa Cox sold 4,755 shares of the business'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 sale, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. The trade was a 47.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

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.