Ritholtz Wealth Management Makes New $292,000 Investment in DT Midstream, Inc. $DTM

Key Points

• Ritholtz Wealth Management acquired a new position in DT Midstream, Inc. valued at approximately $292,000, purchasing 2,661 shares in the second quarter of the year.
• DT Midstream has recently posted earnings of $1.04 per share, exceeding analysts' estimates, with a net margin of 33.90% and revenue of $299 million for the quarter.
• The firm declared a quarterly dividend of $0.82 per share, representing an annualized dividend yield of 3.0% and a dividend payout ratio of 87.94%.

Ritholtz Wealth Management acquired a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,661 shares of the company's stock, valued at approximately $292,000.

Several other hedge funds and other institutional investors have also bought and sold shares of DTM. Vanguard Group Inc. raised its stake in DT Midstream by 5.9% in the 1st 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 in the last quarter. Jane Street Group LLC increased its holdings in DT Midstream by 1,699.5% in the 1st quarter. Jane Street Group LLC now owns 401,170 shares of the company's stock valued at $38,705,000 after buying an additional 378,877 shares during the period. Nuveen LLC bought a new position in DT Midstream in the 1st quarter valued at about $33,529,000. HITE Hedge Asset Management LLC bought a new position in DT Midstream in the 1st quarter valued at about $31,139,000. Finally, AQR Capital Management LLC increased its holdings in DT Midstream by 59.9% in 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 period. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Trading Up 0.9%

DTM opened at $109.94 on Tuesday. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $115.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $11.17 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.38 and a beta of 0.78. The company's 50 day moving average price is $107.44 and its two-hundred day moving average price is $103.87.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates 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 in the previous year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is presently 87.94%.

Insiders Place Their Bets

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on DTM shares. Mizuho raised their target price on shares of DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a report on Friday, August 29th. Citigroup raised their target price on shares of DT Midstream from $115.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Wells Fargo & Company raised their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $114.00 to $118.00 and gave the company a "neutral" rating in a report on Monday, September 29th. Finally, UBS Group raised their target price on shares of DT Midstream from $115.00 to $128.00 and gave the company a "buy" rating in a report on Friday, October 3rd. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $115.08.

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.

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