Strs Ohio Makes New Investment in DT Midstream, Inc. $DTM

Key Points

• Strs Ohio has invested approximately $2.34 million in DT Midstream, acquiring 24,224 shares in the first quarter.
• DT Midstream's recent quarterly earnings report exceeded expectations, with an EPS of $1.04, surpassing analyst predictions of $0.98.
• The company has declared a quarterly dividend of $0.82, with an annualized yield of 3.1%, scheduled for payment on October 15th.

Strs Ohio bought a new position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 24,224 shares of the company's stock, valued at approximately $2,337,000.

Other institutional investors have also bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC bought a new stake in DT Midstream during the first quarter worth $25,000. Alpine Bank Wealth Management bought a new stake in DT Midstream during the first quarter worth $26,000. Twin Tree Management LP bought a new stake in DT Midstream during the first quarter worth $29,000. Geneos Wealth Management Inc. grew its holdings in DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company's stock worth $42,000 after buying an additional 123 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock worth $43,000 after buying an additional 135 shares in the last quarter. Institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DTM shares. Wells Fargo & Company upped their price objective on DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley increased their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research note on Wednesday, August 6th. Stifel Nicolaus increased their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Mizuho increased their price target on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $110.67.

DT Midstream Trading Down 0.4%

DTM traded down $0.43 on Friday, hitting $107.27. 2,410,082 shares of the company were exchanged, compared to its average volume of 677,679. The firm has a fifty day simple moving average of $103.61 and a two-hundred day simple moving average of $101.35. 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 12 month low of $76.13 and a 12 month high of $114.50. The stock has a market capitalization of $10.90 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77.

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

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. DT Midstream's dividend payout ratio (DPR) is presently 87.94%.

Insider Buying and Selling

In related news, VP Melissa Cox sold 4,755 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

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.