Legal & General Group Plc Has $20.35 Million Position in DT Midstream, Inc. $DTM

Key Points

• Legal & General Group Plc cut its DT Midstream stake by 30.5% in the fourth quarter, selling 74,710 shares and ending with 170,062 shares valued at about $20.35 million.
• DT Midstream reported better-than-expected quarterly results, with earnings of $1.27 per share versus the $1.11 consensus and revenue of $336 million versus $313.65 million expected.
• The company also declared a quarterly dividend of $0.88 per share, or $3.52 annualized, for a yield of about 2.5%, while analysts currently rate the stock a Moderate Buy with an average target price of $154.46.

Legal & General Group Plc lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 30.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,062 shares of the company's stock after selling 74,710 shares during the quarter. Legal & General Group Plc owned about 0.17% of DT Midstream worth $20,353,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DTM. Royal Bank of Canada grew its position in DT Midstream by 21.6% during the first quarter. Royal Bank of Canada now owns 90,286 shares of the company's stock worth $8,711,000 after buying an additional 16,043 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in shares of DT Midstream by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,631 shares of the company's stock valued at $1,315,000 after purchasing an additional 218 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of DT Midstream by 13.1% in 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 purchasing an additional 31,894 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. Finally, Cresset Asset Management LLC boosted its holdings in shares of DT Midstream by 2.6% in the 2nd quarter. Cresset Asset Management LLC now owns 6,300 shares of the company's stock valued at $698,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $140.02 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $139.49 and a two-hundred day moving average price of $130.05. DT Midstream, Inc. has a 1-year low of $98.06 and a 1-year high of $152.88. The company has a market cap of $14.28 billion, a P/E ratio of 30.98, a PEG ratio of 3.08 and a beta of 0.72.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.16. DT Midstream had a return on equity of 9.53% and a net margin of 36.28%.The firm had revenue of $336.00 million during the quarter, compared to the consensus estimate of $313.65 million. During the same period last year, the business posted $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. As a group, analysts anticipate that DT Midstream, Inc. will post 4.7 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, June 15th. DT Midstream's dividend payout ratio (DPR) is presently 77.88%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Mizuho raised their target price on DT Midstream from $129.00 to $153.00 and gave the company a "neutral" rating in a report on Tuesday, May 5th. Scotiabank assumed coverage on DT Midstream in a report on Tuesday, May 26th. They issued an "outperform" rating and a $176.00 target price on the stock. The Goldman Sachs Group raised their target price on DT Midstream from $111.00 to $127.00 and gave the company a "sell" rating in a report on Monday, April 20th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $166.00 target price on shares of DT Midstream in a report on Friday, May 1st. Finally, Stifel Nicolaus set a $137.00 target price on DT Midstream and gave the company a "hold" rating in a report on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $154.46.

DT Midstream Company Profile

DT Midstream Inc NYSE: DTM is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.

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