Prudential PLC Purchases New Holdings in DT Midstream, Inc. $DTM

Key Points

• Prudential PLC opened a new position in DT Midstream during the fourth quarter, buying 7,269 shares valued at about $870,000.
• Institutional ownership remains very high, with hedge funds and other investors holding 81.53% of the company; several large funds also increased their stakes recently.
• DT Midstream reported strong quarterly results, beating EPS and revenue estimates, and it recently declared a $0.88 quarterly dividend payable July 15 for a 2.5% annualized yield.

Prudential PLC purchased a new stake in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,269 shares of the company's stock, valued at approximately $870,000.

Several other hedge funds have also made changes to their positions in the company. 59 North Capital Management LP lifted its position in shares of DT Midstream by 49.0% in the 3rd quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company's stock valued at $347,556,000 after acquiring an additional 1,010,965 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of DT Midstream by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company's stock valued at $301,695,000 after acquiring an additional 99,602 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of DT Midstream by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 2,407,612 shares of the company's stock valued at $288,191,000 after acquiring an additional 106,533 shares in the last quarter. Merewether Investment Management LP lifted its position in DT Midstream by 192.4% in the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company's stock worth $113,128,000 after buying an additional 658,400 shares in the last quarter. Finally, Norges Bank purchased a new stake in DT Midstream in the 4th quarter worth approximately $115,715,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Down 0.1%

Shares of DT Midstream stock opened at $142.31 on Monday. The stock has a market capitalization of $14.52 billion, a P/E ratio of 31.49, a PEG ratio of 3.11 and a beta of 0.72. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $140.00 and a two-hundred day moving average price of $130.99. DT Midstream, Inc. has a 12-month low of $98.06 and a 12-month high of $152.88.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $313.65 million. During the same period last year, the business posted $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. Equities analysts expect that DT Midstream, Inc. will post 4.75 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be paid a $0.88 dividend. The ex-dividend date is Monday, June 15th. This represents a $3.52 dividend on an annualized basis and a yield of 2.5%. DT Midstream's dividend payout ratio (DPR) is presently 77.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on DTM. Wells Fargo & Company raised their price target on shares of DT Midstream from $150.00 to $165.00 and gave the company an "overweight" rating in a report on Friday, March 13th. Scotiabank began coverage on shares of DT Midstream in a report on Tuesday, May 26th. They set an "outperform" rating and a $176.00 price target on the stock. UBS Group raised their price target on shares of DT Midstream from $152.00 to $170.00 and gave the company a "buy" rating in a report on Friday, May 15th. The Goldman Sachs Group raised their price target on shares of DT Midstream from $111.00 to $127.00 and gave the company a "sell" rating in a report on Monday, April 20th. Finally, Weiss Ratings upgraded shares of DT Midstream from a "buy (a-)" rating to a "buy (a)" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, DT Midstream presently has a consensus rating of "Moderate Buy" and a consensus price target of $154.46.

DT Midstream Company 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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