Tortoise Capital Advisors L.L.C. Raises Holdings in DT Midstream, Inc. $DTM

Key Points

• Tortoise Capital Advisors L.L.C. increased its stake in DT Midstream, Inc. by 21.8%, bringing its total holdings to approximately 1,582,833 shares valued at $152.7 million.
• DT Midstream's latest quarterly earnings revealed an EPS of $1.04, surpassing analysts' expectations of $0.98, with a revenue of $299 million.
• The company announced a quarterly dividend of $0.82 per share, with an annualized yield of 3.2% and a payout ratio of 87.94%.

Tortoise Capital Advisors L.L.C. grew its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 21.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,582,833 shares of the company's stock after buying an additional 282,870 shares during the period. DT Midstream accounts for 1.8% of Tortoise Capital Advisors L.L.C.'s portfolio, making the stock its 17th biggest holding. Tortoise Capital Advisors L.L.C. owned 1.56% of DT Midstream worth $152,712,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DTM. Blackstone Inc. lifted its position in shares of DT Midstream by 2,783.1% during the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after buying an additional 1,574,705 shares in the last quarter. Zimmer Partners LP purchased a new position in DT Midstream in the 4th quarter worth approximately $74,572,000. Vanguard Group Inc. lifted its holdings 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. Westwood Holdings Group Inc. lifted its holdings in DT Midstream by 108.8% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company's stock worth $107,784,000 after purchasing an additional 564,899 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in DT Midstream by 9,693.3% in the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company's stock worth $37,652,000 after purchasing an additional 386,277 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DT Midstream

In other DT Midstream 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 value 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 represents 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 hyperlink. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on DTM shares. Wells Fargo & Company boosted their price target on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Morgan Stanley boosted their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Stifel Nicolaus boosted 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. Finally, Barclays boosted their price target 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, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $110.91.

DT Midstream Trading Up 0.5%

Shares of NYSE DTM traded up $0.49 during trading hours on Wednesday, hitting $102.61. 183,071 shares of the company traded hands, compared to its average volume of 986,470. The company's 50 day moving average price is $103.76 and its 200 day moving average price is $100.45. The stock has a market capitalization of $10.42 billion, a price-to-earnings ratio of 27.51, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 12 month low of $73.52 and a 12 month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. The company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same quarter in the prior year, the company posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.2%. 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.