MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 131,138 Shares of DT Midstream, Inc. $DTM

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has increased its ownership in DT Midstream, acquiring 131,138 shares to now hold 1,236,800 shares, valued at approximately $119.33 million.
• Major institutional investors have also boosted their positions in DT Midstream, with Vanguard Group Inc. increasing its stake by 5.9%, bringing its total holdings to over $1 billion.
• DT Midstream recently announced a quarterly dividend of $0.82, resulting in an annualized yield of 3.1% and a payout ratio of 87.94%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 11.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,236,800 shares of the company's stock after purchasing an additional 131,138 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.22% of DT Midstream worth $119,326,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in DT Midstream during the 1st quarter valued at $25,000. Alpine Bank Wealth Management acquired a new stake in DT Midstream during the 1st quarter valued at $26,000. Twin Tree Management LP acquired a new stake in DT Midstream during the 1st quarter valued at $29,000. Bessemer Group Inc. increased its holdings in DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after purchasing an additional 276 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Trading Up 1.0%

DTM stock traded up $1.02 during midday trading on Wednesday, hitting $106.06. 191,276 shares of the company's stock were exchanged, compared to its average volume of 975,440. The stock's fifty day moving average price is $103.18 and its 200-day moving average price is $100.72. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $10.77 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 2.28 and a beta of 0.77. DT Midstream, Inc. has a one year low of $73.52 and a one year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted 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. The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same period in the previous year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share 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. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.1%. DT Midstream's payout ratio is currently 87.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays lifted their target price on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus lifted their target price on 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 lifted their target price on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Mizuho lifted their target price on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Finally, Morgan Stanley lifted their target price on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and an average target price of $110.67.

Insiders Place Their Bets

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares in the company, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

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.