Jane Street Group LLC Has $38.71 Million Stock Holdings in DT Midstream, Inc. $DTM

Key Points

• Jane Street Group LLC significantly increased its ownership of DT Midstream, Inc. by 1,699.5% in Q1, acquiring a total of 401,170 shares valued at approximately $38.7 million.
• Multiple institutional investors, including Vanguard Group and Blackstone, have also made substantial increases to their stakes, indicating strong institutional interest in the company.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, which reflects an annualized yield of 3.2% and a payout ratio of 87.94%.

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

A number of other large investors have also recently modified their holdings of DTM. Blackstone Inc. boosted its holdings in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after purchasing an additional 1,574,705 shares in the last quarter. Zimmer Partners LP acquired a new stake in shares of DT Midstream in the 4th quarter valued at $74,572,000. Vanguard Group Inc. boosted its holdings in shares of DT Midstream by 5.9% in the 1st 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 in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of DT Midstream by 108.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock valued at $107,784,000 after purchasing an additional 564,899 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of DT Midstream by 9,693.3% in the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock valued at $37,652,000 after purchasing an additional 386,277 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DTM shares. Stifel Nicolaus raised 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. Barclays raised 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. Mizuho raised their price objective on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday. Morgan Stanley raised their price objective on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company raised their price objective on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" 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 data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $110.67.

DT Midstream Trading Up 0.1%

DTM traded up $0.12 during midday trading on Monday, hitting $104.26. 1,065,862 shares of the company were exchanged, compared to its average volume of 718,641. The firm has a market capitalization of $10.59 billion, a P/E ratio of 27.95, a P/E/G ratio of 1.89 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 firm's 50 day moving average price is $103.62 and its 200-day moving average price is $100.52. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.04 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 firm had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same period in the previous year, the business earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, equities analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company 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 dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. DT Midstream's dividend payout ratio is 87.94%.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares of the company's stock, valued at $540,214.37. The trade was a 47.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by company insiders.

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.