Jane Street Group LLC Grows Position in DT Midstream, Inc. $DTM

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 stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 1,699.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,170 shares of the company's stock after buying an additional 378,877 shares during the quarter. Jane Street Group LLC owned approximately 0.39% of DT Midstream worth $38,705,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in DT Midstream by 13.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company's stock valued at $26,652,000 after buying an additional 31,894 shares in the last quarter. Yaupon Capital Management LP grew its position in shares of DT Midstream by 7.0% in the 1st quarter. Yaupon Capital Management LP now owns 216,497 shares of the company's stock worth $20,888,000 after buying an additional 14,121 shares during the last quarter. United Services Automobile Association purchased a new position in shares of DT Midstream in the 1st quarter worth approximately $618,000. Aristeia Capital L.L.C. acquired a new stake in DT Midstream in the 1st quarter worth approximately $401,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in DT Midstream by 70.1% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 13,320 shares of the company's stock worth $1,285,000 after purchasing an additional 5,490 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on DTM shares. Mizuho lifted their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Stifel Nicolaus boosted 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. Barclays upped their target price on shares of DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Morgan Stanley upped their target price on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company upped their target price 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, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $110.67.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the company'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 transaction, the vice president owned 5,171 shares of the company's stock, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

DT Midstream Trading Up 0.7%

Shares of DTM traded up $0.70 during mid-day trading on Wednesday, reaching $105.40. The stock had a trading volume of 109,784 shares, compared to its average volume of 964,044. 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 52-week low of $76.13 and a 52-week high of $114.50. The business's fifty day moving average is $103.32 and its 200 day moving average is $101.12. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 2.32 and a beta of 0.77.

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

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. 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.