Northern Trust Corp Raises Stake in DT Midstream, Inc. $DTM

Key Points

• Northern Trust Corp increased its stake in DT Midstream, Inc. by 8.9% during the first quarter, owning approximately 1.14% of the company, valued at $111.6 million after acquiring 94,470 shares.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, which translates to an annualized dividend of $3.28 and a yield of 3.2%, with a dividend payout ratio of 87.94%.
• The company reported an Earnings Per Share of $1.04 for the last quarter, exceeding analysts' expectations, along with a revenue of $299 million, surpassing estimates of $295.7 million.

Northern Trust Corp increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,156,867 shares of the company's stock after acquiring an additional 94,470 shares during the quarter. Northern Trust Corp owned approximately 1.14% of DT Midstream worth $111,615,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of DTM. Mowery & Schoenfeld Wealth Management LLC bought a new stake in DT Midstream during the first quarter worth $25,000. Alpine Bank Wealth Management bought a new stake in DT Midstream during the first quarter worth $26,000. Bessemer Group Inc. lifted its holdings in DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after acquiring an additional 135 shares during the period. Versant Capital Management Inc lifted its holdings in DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company's stock worth $47,000 after acquiring an additional 276 shares during the period. Finally, UMB Bank n.a. lifted its holdings in DT Midstream by 50.3% during the first quarter. UMB Bank n.a. now owns 723 shares of the company's stock worth $70,000 after acquiring an additional 242 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DTM. Morgan Stanley lifted their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Stifel Nicolaus lifted their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Barclays lifted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Mizuho set a $108.00 target price on DT Midstream in a research note on Friday. 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 research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, DT Midstream currently has a consensus rating of "Hold" and a consensus target price of $110.67.

DT Midstream Stock Performance

Shares of DTM traded up $0.30 during mid-day trading on Friday, hitting $104.44. The stock had a trading volume of 101,501 shares, compared to its average volume of 984,360. The firm has a market cap of $10.61 billion, a P/E ratio of 27.96, a PEG ratio of 1.84 and a beta of 0.77. The business has a fifty day moving average price of $103.66 and a 200-day moving average price of $100.48. 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 52 week low of $73.52 and a 52 week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its 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 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. On average, equities research analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

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

Insider Transactions at DT Midstream

In related news, VP Melissa Cox sold 4,755 shares of the 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 sale, the vice president owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company's stock.

DT Midstream 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.