Nuveen LLC Acquires Shares of 347,521 DT Midstream, Inc. $DTM

Key Points

• Nuveen LLC acquired 347,521 shares of DT Midstream, Inc., valued at approximately $33.5 million, representing 0.34% of the company's total shares.
• DT Midstream's recent earnings report showed $1.04 earnings per share, surpassing analysts' expectations of $0.98, with a total revenue of $299 million.
• The company plans to pay a quarterly $0.82 dividend on October 15, 2023, resulting in an annualized dividend yield of 3.2%.

Nuveen LLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 347,521 shares of the company's stock, valued at approximately $33,529,000. Nuveen LLC owned approximately 0.34% of DT Midstream as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Blackstone Inc. raised its stake in shares of DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the last quarter. Zimmer Partners LP purchased a new stake in shares of DT Midstream during the fourth quarter worth approximately $74,572,000. Vanguard Group Inc. raised its stake in shares of DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock worth $1,078,161,000 after purchasing an additional 621,183 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in shares of DT Midstream by 108.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after purchasing an additional 564,899 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of DT Midstream by 9,693.3% during the first quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock worth $37,652,000 after purchasing an additional 386,277 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 stock was 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 approximately $540,214.37. This represents a 47.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DTM has been the subject of several analyst reports. Barclays upped their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus increased their price objective on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. US Capital Advisors cut DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Morgan Stanley increased their price objective on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company increased their price objective on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, three have issued 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 $110.91.

DT Midstream Price Performance

DT Midstream stock traded up $0.1550 during midday trading on Wednesday, reaching $102.1450. 257,410 shares of the company were exchanged, compared to its average volume of 998,723. 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 capitalization of $10.38 billion, a price-to-earnings ratio of 27.38, a P/E/G ratio of 1.85 and a beta of 0.77. The firm's 50-day simple moving average is $104.09 and its 200-day simple moving average is $100.45. DT Midstream, Inc. has a 1 year low of $73.52 and a 1 year 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, topping analysts' consensus estimates of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The business had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. During the same quarter in the previous year, the business earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.2%. DT Midstream's payout ratio is 87.94%.

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.