QRG Capital Management Inc. Has $950,000 Stock Position in DT Midstream, Inc. $DTM

Key Points

• QRG Capital Management Inc. significantly increased its stake in DT Midstream, Inc. by 186.7%, holding 8,642 shares worth $950,000 after acquiring an additional 5,628 shares.
• Analysts have raised their price targets for DT Midstream, with several firms increasing their estimates, resulting in ratings such as "Buy" and "Overweight" from Stifel Nicolaus and Wells Fargo.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, representing a yield of 2.9%, with an ex-dividend date of September 15th.

QRG Capital Management Inc. increased its stake in DT Midstream, Inc. (NYSE:DTM - Free Report) by 186.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,642 shares of the company's stock after acquiring an additional 5,628 shares during the quarter. QRG Capital Management Inc.'s holdings in DT Midstream were worth $950,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 valued at $1,078,161,000 after acquiring an additional 621,183 shares in the last quarter. Jane Street Group LLC grew its holdings in DT Midstream by 1,699.5% during the first quarter. Jane Street Group LLC now owns 401,170 shares of the company's stock worth $38,705,000 after buying an additional 378,877 shares in the last quarter. Nuveen LLC bought a new position in DT Midstream in the 1st quarter valued at $33,529,000. HITE Hedge Asset Management LLC bought a new position in DT Midstream in the 1st quarter valued at $31,139,000. Finally, AQR Capital Management LLC lifted its position in shares of DT Midstream by 59.9% during the 1st quarter. AQR Capital Management LLC now owns 804,745 shares of the company's stock valued at $77,247,000 after buying an additional 301,355 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares in the company, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on DTM shares. Stifel Nicolaus increased their price objective on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. 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 report on Friday, August 1st. Barclays increased their price objective on DT Midstream from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday. UBS Group increased their price objective on DT Midstream from $115.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, October 3rd. Finally, Morgan Stanley increased their price objective on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $112.92.

DT Midstream Price Performance

DTM opened at $114.76 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. DT Midstream, Inc. has a 52-week low of $82.94 and a 52-week high of $115.80. The stock has a market capitalization of $11.66 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.49 and a beta of 0.78. The stock's 50 day moving average price is $106.51 and its 200-day moving average price is $103.05.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The company had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. 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 predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed 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. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

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.

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