DT Midstream, Inc. $DTM Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. sold 573,525 shares of DT Midstream, reducing its stake by 72.9%, leaving it with approximately 212,862 shares valued around $20.5 million.
• Analysts have mixed opinions on DT Midstream, with six analysts giving it a Buy rating while the company’s consensus rating remains at Hold and an average target price of $110.91.
• DT Midstream recently declared a quarterly dividend of $0.82 per share, representing a 3.2% dividend yield and indicating a payout ratio of 87.94%.

T. Rowe Price Investment Management Inc. reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 72.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 212,862 shares of the company's stock after selling 573,525 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.21% of DT Midstream worth $20,537,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of 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 acquiring an additional 621,183 shares in the last quarter. Deutsche Bank AG raised its position in DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after acquiring an additional 147,790 shares in the last quarter. Blackstone Inc. lifted its holdings in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after acquiring an additional 1,574,705 shares during the period. Northern Trust Corp boosted its position in DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock worth $111,615,000 after purchasing an additional 94,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of DT Midstream by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock valued at $110,790,000 after purchasing an additional 5,218 shares during the period. 81.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction that occurred on Monday, August 11th. The shares were 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 owned 5,171 shares in the company, valued at approximately $540,214.37. The trade was a 47.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their target price on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday, August 6th. Stifel Nicolaus upped their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their target price 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. Mizuho upped their price target on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Barclays lifted their price objective on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Six 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $110.67.

DT Midstream Stock Up 0.1%

NYSE DTM traded up $0.12 during trading hours on Friday, hitting $104.26. 1,065,862 shares of the company were exchanged, compared to its average volume of 729,125. The company has a 50 day moving average of $103.62 and a two-hundred day moving average of $100.52. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 1.89 and a beta of 0.77. DT Midstream, Inc. has a 52-week low of $73.52 and a 52-week high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its 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 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 analysts' expectations of $295.70 million. During the same quarter last year, the company earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

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

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.