PDT Partners LLC Has $3.13 Million Position in DT Midstream, Inc. $DTM

Key Points

• PDT Partners LLC reduced its stake in DT Midstream, Inc. by 20%, owning 32,426 shares worth approximately $3.13 million after selling 8,106 shares in the first quarter.
• DT Midstream announced a quarterly dividend of $0.82 per share to be paid on October 15, representing a dividend yield of 3.1% with a payout ratio of 87.94%.
• Analysts have raised their price targets for DT Midstream, with estimates ranging from $103.00 to $118.00, reflecting varying ratings across the brokerage community from "Buy" to "Underweight."

PDT Partners LLC lowered its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 20.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,426 shares of the company's stock after selling 8,106 shares during the quarter. PDT Partners LLC's holdings in DT Midstream were worth $3,128,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DTM. CWM LLC raised its position 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 purchasing an additional 669 shares during the period. OneDigital Investment Advisors LLC bought a new position in shares of DT Midstream in the first quarter valued at about $274,000. Bessemer Group Inc. raised 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 bought a new position in shares of DT Midstream in the first quarter valued at about $238,000. Finally, Catalyst Capital Advisors LLC raised its position in shares of DT Midstream by 10.1% in the first quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock valued at $13,896,000 after purchasing an additional 13,243 shares during the period. Institutional investors and hedge funds own 81.53% of the company's stock.

Insider Buying and Selling at DT Midstream

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

DT Midstream Price Performance

DTM stock traded down $0.13 during mid-day trading on Friday, hitting $105.17. The stock had a trading volume of 813,426 shares, compared to its average volume of 643,702. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 52 week low of $73.52 and a 52 week high of $114.50. The firm has a market capitalization of $10.68 billion, a P/E ratio of 28.20, a P/E/G ratio of 2.30 and a beta of 0.77. The firm has a fifty day simple moving average of $103.29 and a 200 day simple moving average of $100.66.

DT Midstream (NYSE:DTM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.04 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 analyst estimates of $295.70 million. During the same period last year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is presently 87.94%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DTM shares. Barclays increased their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Morgan Stanley increased their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Mizuho raised their price target on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research report on Friday, August 29th. Stifel Nicolaus raised their price target on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company raised their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $110.67.

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.