Truist Financial Corp Acquires 2,451 Shares of DT Midstream, Inc. $DTM

Key Points

• Truist Financial Corp increased its ownership in DT Midstream, Inc. by 18.3%, adding 2,451 shares during the second quarter, bringing its total to 15,862 shares valued at approximately $1.74 million.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, with a payout ratio of 87.94% and an annualized yield of 3.0%.
• Several analysts have raised their price targets for DT Midstream, with UBS Group setting the target at $128.00 while the stock has a consensus rating of "Hold" and an average price target of $114.17.

Truist Financial Corp increased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 18.3% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 15,862 shares of the company's stock after buying an additional 2,451 shares during the quarter. Truist Financial Corp's holdings in DT Midstream were worth $1,743,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of DTM. Mowery & Schoenfeld Wealth Management LLC bought a new stake in DT Midstream in the 1st quarter worth about $25,000. Alpine Bank Wealth Management bought a new stake in DT Midstream in the 1st quarter worth about $26,000. Twin Tree Management LP bought a new stake in DT Midstream in the 1st quarter worth about $29,000. Geneos Wealth Management Inc. increased its holdings in DT Midstream by 39.3% in the 1st 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. increased its holdings in DT Midstream by 44.0% in the 1st 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. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Down 1.3%

DTM stock opened at $109.66 on Friday. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $115.80. 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 stock has a market cap of $11.14 billion, a P/E ratio of 29.40, a PEG ratio of 2.39 and a beta of 0.78. The business's 50-day moving average price is $106.76 and its 200-day moving average price is $103.21.

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 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 analysts' expectations of $295.70 million. During the same period in the previous year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities research analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

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 issued 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 3.0%. DT Midstream's payout ratio is currently 87.94%.

Insider Buying and Selling

In related news, VP Melissa Cox sold 4,755 shares of the business's stock in a transaction that occurred 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 transaction, the vice president directly owned 5,171 shares of the company's stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

DTM has been the subject of several research analyst reports. Barclays lifted their price objective on DT Midstream from $103.00 to $114.00 and gave the stock an "equal weight" rating in a report on Wednesday. JPMorgan Chase & Co. boosted their price target on DT Midstream from $114.00 to $118.00 and gave the company a "neutral" rating in a research note on Monday, September 29th. Stifel Nicolaus boosted their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. UBS Group boosted their price target on DT Midstream from $115.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, October 3rd. Finally, Citigroup boosted their price target on DT Midstream from $115.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $114.17.

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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