Russell Investments Group Ltd. Has $39.78 Million Stake in DT Midstream, Inc. $DTM

Key Points

• Russell Investments Group Ltd. reduced its stake in DT Midstream, Inc. by 7.5%, selling 33,401 shares and now holding approximately 412,315 shares valued at $39.78 million.
• DT Midstream announced a quarterly dividend of $0.82 per share, representing an annualized dividend of $3.28 and a yield of 3.2%, with a payout ratio of 87.94%.
• Recent analyst ratings suggest mixed outlooks, with target prices ranging from $102 to $118, indicating varied expectations for the company's stock performance in the near future.

Russell Investments Group Ltd. lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 412,315 shares of the company's stock after selling 33,401 shares during the quarter. Russell Investments Group Ltd. owned about 0.41% of DT Midstream worth $39,780,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in DTM. Mowery & Schoenfeld Wealth Management LLC purchased a new position in DT Midstream during the first quarter worth about $25,000. Alpine Bank Wealth Management bought a new stake in shares of DT Midstream in the first quarter worth $26,000. Bessemer Group Inc. lifted its position in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after purchasing an additional 117 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of DT Midstream by 130.2% in the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company's stock valued at $47,000 after acquiring an additional 276 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in shares of DT Midstream by 50.3% in the 1st quarter. UMB Bank n.a. now owns 723 shares of the company's stock worth $70,000 after buying an additional 242 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

NYSE:DTM traded down $0.44 during mid-day trading on Tuesday, reaching $101.51. 121,312 shares of the stock were exchanged, compared to its average volume of 1,000,292. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average price of $104.15 and a 200 day moving average price of $100.44. DT Midstream, Inc. has a 1-year low of $73.52 and a 1-year high of $114.50. The firm has a market capitalization of $10.31 billion, a PE ratio of 27.21, a PEG ratio of 1.87 and a beta of 0.77.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data 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 net margin of 33.90% and a return on equity of 8.48%. The company had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. During the same quarter last year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a dividend yield of 3.2%. DT Midstream's dividend payout ratio (DPR) is currently 87.94%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus raised their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Morgan Stanley increased their target price on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Barclays boosted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. Finally, US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, DT Midstream currently has an average rating of "Hold" and a consensus price target of $110.91.

Insider Activity

In other news, VP Melissa Cox sold 4,755 shares of the company's stock in a transaction on 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 of the company's stock, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.34% of the stock is owned by company insiders.

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.