Morningstar Investment Management LLC Makes New $410,000 Investment in DT Midstream, Inc. $DTM

Key Points

• Morningstar Investment Management LLC has made a new investment of approximately $410,000 in DT Midstream, purchasing 3,731 shares in the second quarter.
• DT Midstream reported a quarterly earnings per share (EPS) of $1.04, beating expectations of $0.98, with revenue of $299 million for the same quarter.
• The company announced a quarterly dividend of $0.82 per share, representing a 3.0% yield, with a payout ratio of 87.94%.

Morningstar Investment Management LLC purchased a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,731 shares of the company's stock, valued at approximately $410,000.

Other institutional investors also recently bought and sold shares of the company. CWM LLC lifted its holdings in DT Midstream by 18.9% during the 1st quarter. CWM LLC now owns 4,201 shares of the company's stock worth $405,000 after buying an additional 669 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new stake in DT Midstream during the 1st quarter worth about $274,000. Bessemer Group Inc. lifted its holdings in DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after buying an additional 135 shares during the last quarter. True Link Financial Advisors LLC purchased a new stake in DT Midstream during the 1st quarter worth about $238,000. Finally, Catalyst Capital Advisors LLC lifted its holdings in DT Midstream by 10.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock worth $13,896,000 after buying an additional 13,243 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DTM stock opened at $110.06 on Wednesday. The stock has a market capitalization of $11.18 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $115.80. The stock's 50-day moving average price is $106.97 and its 200 day moving average price is $103.39. 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 issued its quarterly earnings results 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. The firm had revenue of $299.00 million for the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same quarter in the previous year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

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 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 yield of 3.0%. DT Midstream's payout ratio is presently 87.94%.

Insider Transactions at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction that occurred on 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 owned 5,171 shares in the company, valued at approximately $540,214.37. The trade was a 47.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on DTM. Barclays boosted their target price on DT Midstream from $103.00 to $114.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their target price on DT Midstream from $114.00 to $118.00 and gave the company a "neutral" rating in a report on Monday, September 29th. Citigroup boosted their target price on DT Midstream from $115.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, October 9th. UBS Group boosted their target price on DT Midstream from $115.00 to $128.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Finally, Wells Fargo & Company boosted 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. Seven 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's stock. According to MarketBeat, DT Midstream presently has a consensus rating of "Hold" and a consensus target price of $115.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.