Millennium Management LLC Increases Position in DT Midstream, Inc. $DTM

Key Points

• Millennium Management LLC has increased its position in DT Midstream, Inc. by 86.7%, now owning 349,247 shares valued at approximately $33.7 million.
• Analysts have raised their target prices for DT Midstream, with Wells Fargo upping it to $117.00 and Mizuho lifting it to $108.00, resulting in a consensus price target of $110.67.
• DT Midstream is set to pay a quarterly dividend of $0.82 on October 15th, representing a 3.1% dividend yield, with a payout ratio of 87.94%.

Millennium Management LLC lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 86.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,247 shares of the company's stock after purchasing an additional 162,163 shares during the period. Millennium Management LLC owned about 0.34% of DT Midstream worth $33,695,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of DTM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in DT Midstream by 11.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company's stock valued at $119,326,000 after acquiring an additional 131,138 shares in the last quarter. Gotham Asset Management LLC grew its stake in DT Midstream by 25.5% during the 1st quarter. Gotham Asset Management LLC now owns 193,288 shares of the company's stock valued at $18,648,000 after acquiring an additional 39,222 shares in the last quarter. Hancock Whitney Corp grew its stake in DT Midstream by 10.4% during the 1st quarter. Hancock Whitney Corp now owns 11,618 shares of the company's stock valued at $1,121,000 after acquiring an additional 1,096 shares in the last quarter. Cinctive Capital Management LP purchased a new stake in DT Midstream during the 1st quarter valued at about $4,427,000. Finally, Clark Capital Management Group Inc. grew its stake in DT Midstream by 88.0% during the 1st quarter. Clark Capital Management Group Inc. now owns 82,214 shares of the company's stock valued at $7,932,000 after acquiring an additional 38,488 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

Insiders Place Their Bets

In related news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $104.47, for a total transaction of $496,754.85. Following the sale, the vice president directly owned 5,171 shares of the company's stock, valued at $540,214.37. This represents a 47.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

DT Midstream Stock Down 1.4%

DTM traded down $1.50 during trading hours on Tuesday, hitting $104.74. 657,878 shares of the company's stock were exchanged, compared to its average volume of 647,541. DT Midstream, Inc. has a 12-month low of $76.13 and a 12-month high of $114.50. The firm has a 50 day moving average of $103.32 and a 200 day moving average of $101.12. The firm has a market cap of $10.64 billion, a P/E ratio of 28.08, a price-to-earnings-growth ratio of 2.32 and a beta of 0.77. The company has a current ratio of 0.88, a quick 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 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $295.70 million. During the same period in the prior year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio is presently 87.94%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on DTM shares. Stifel Nicolaus upped their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company boosted their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Mizuho boosted their target price on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Barclays boosted their target price on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, Morgan Stanley boosted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $110.67.

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.