Principal Financial Group Inc. Trims Holdings in DT Midstream, Inc. $DTM

Key Points

• Principal Financial Group reduced its stake in DT Midstream by 1.4% in the first quarter, selling 7,288 shares and ending with 506,253 shares valued at about $68.2 million.
• DT Midstream beat earnings expectations in its latest quarter, reporting $1.27 EPS versus the $1.11 consensus and revenue of $336 million, with analysts expecting full-year EPS of 4.77.
• The company paid a quarterly dividend of $0.88 per share, equal to a $3.52 annualized payout and a 2.4% yield, while Wall Street remains broadly positive with a consensus rating of Moderate Buy and an average price target of $155.69.

Principal Financial Group Inc. lowered its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 506,253 shares of the company's stock after selling 7,288 shares during the quarter. Principal Financial Group Inc. owned approximately 0.50% of DT Midstream worth $68,178,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DTM. NewEdge Wealth LLC grew its holdings in DT Midstream by 2.4% in the fourth quarter. NewEdge Wealth LLC now owns 3,613 shares of the company's stock valued at $432,000 after purchasing an additional 85 shares during the period. Covestor Ltd grew its stake in shares of DT Midstream by 11.2% in the fourth quarter. Covestor Ltd now owns 897 shares of the company's stock valued at $107,000 after buying an additional 90 shares in the last quarter. Richardson Financial Services Inc. raised its stake in shares of DT Midstream by 62.7% during the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company's stock valued at $29,000 after purchasing an additional 94 shares during the period. VestGen Investment Management increased its stake in DT Midstream by 1.2% during the 4th quarter. VestGen Investment Management now owns 7,698 shares of the company's stock worth $921,000 after buying an additional 94 shares during the period. Finally, Pathstone Holdings LLC increased its position in shares of DT Midstream by 0.3% during the third quarter. Pathstone Holdings LLC now owns 28,322 shares of the company's stock worth $3,215,000 after acquiring an additional 97 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Trading Up 0.9%

Shares of DTM opened at $146.54 on Friday. The business's 50-day moving average price is $145.16 and its 200 day moving average price is $136.24. The stock has a market capitalization of $14.95 billion, a P/E ratio of 32.42, a P/E/G ratio of 3.16 and a beta of 0.71. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. DT Midstream, Inc. has a 1-year low of $98.06 and a 1-year high of $152.88.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.11 by $0.16. DT Midstream had a net margin of 36.28% and a return on equity of 9.53%. The business had revenue of $336.00 million during the quarter, compared to the consensus estimate of $313.65 million. During the same quarter in the prior year, the firm earned $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. Analysts expect that DT Midstream, Inc. will post 4.77 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Monday, June 15th. DT Midstream's payout ratio is 77.88%.

Wall Street Analyst Weigh In

DTM has been the topic of several recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $158.00 price target on shares of DT Midstream in a report on Thursday, April 30th. UBS Group raised their price target on DT Midstream from $152.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, May 15th. Wall Street Zen upgraded shares of DT Midstream from a "sell" rating to a "hold" rating in a research report on Saturday, May 2nd. Jefferies Financial Group boosted their price target on DT Midstream from $164.00 to $170.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $146.00 to $154.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, DT Midstream presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.69.

DT Midstream Profile

DT Midstream Inc NYSE: DTM is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.

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