DT Midstream, Inc. $DTM Shares Sold by Miller Howard Investments Inc. NY

Key Points

• Miller Howard Investments Inc. reduced its stake in DT Midstream, Inc. by 6.0%, selling 10,790 shares during the second quarter, resulting in ownership of approximately 0.17% of the company valued at $18.5 million.
• Insider VP Melissa Cox sold 4,755 shares at an average price of $104.47, representing a 47.90% decrease in her position.
• Analysts have a mixed outlook on DT Midstream, with a consensus rating of "Hold" and an average price target of $110.67, following various upgrades to target prices from firms like Morgan Stanley and Wells Fargo.

Miller Howard Investments Inc. NY lessened its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 6.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 168,482 shares of the company's stock after selling 10,790 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.17% of DT Midstream worth $18,518,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC boosted its stake in shares of DT Midstream by 18.9% in the first quarter. CWM LLC now owns 4,201 shares of the company's stock valued at $405,000 after buying an additional 669 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of DT Midstream in the first quarter valued at $274,000. Bessemer Group Inc. grew its position in shares of DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 135 shares during the period. True Link Financial Advisors LLC purchased a new stake in DT Midstream during the first quarter valued at about $238,000. Finally, Catalyst Capital Advisors LLC grew its position in DT Midstream by 10.1% during the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock valued at $13,896,000 after acquiring an additional 13,243 shares during the period. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of DTM traded up $2.90 on Tuesday, reaching $110.72. The company's stock had a trading volume of 234,100 shares, compared to its average volume of 971,560. 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 12-month low of $76.91 and a 12-month high of $114.50. The stock has a market capitalization of $11.25 billion, a P/E ratio of 29.68, a PEG ratio of 2.35 and a beta of 0.77. The stock's 50 day simple moving average is $103.66 and its two-hundred day simple moving average is $101.62.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $295.70 million. During the same quarter last year, the business posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Mizuho increased their price objective on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Wells Fargo & Company increased their target price on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Finally, Morgan Stanley increased their price objective on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Six research 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. Based on data from MarketBeat.com, DT Midstream has an average rating of "Hold" and an average target price of $110.67.

Insider Activity at DT Midstream

In related news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction on 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 owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by 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.