United Services Automobile Association Makes New Investment in DT Midstream, Inc. $DTM

Key Points

• United Services Automobile Association acquired a new stake in DT Midstream, purchasing 6,383 shares valued at approximately $618,000 during the first quarter.
• DT Midstream recently announced a quarterly dividend of $0.82 per share, with a dividend yield of 3.1% and a payout ratio of 87.94%.
• The company reported a quarterly earnings per share (EPS) of $1.04, exceeding estimates and setting a FY 2025 EPS guidance of 4.050-4.450.

United Services Automobile Association purchased a new position in DT Midstream, Inc. (NYSE:DTM - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 6,383 shares of the company's stock, valued at approximately $618,000.

A number of other hedge funds have also bought and sold shares of the company. Aristeia Capital L.L.C. acquired a new position in DT Midstream in the first quarter valued at approximately $401,000. Dynamic Technology Lab Private Ltd boosted its stake in DT Midstream by 70.1% in the first quarter. Dynamic Technology Lab Private Ltd now owns 13,320 shares of the company's stock valued at $1,285,000 after acquiring an additional 5,490 shares during the period. Scientech Research LLC acquired a new position in DT Midstream in the first quarter valued at approximately $1,455,000. Palo Duro Investment Partners LP boosted its stake in DT Midstream by 26.2% in the first quarter. Palo Duro Investment Partners LP now owns 6,609 shares of the company's stock valued at $638,000 after acquiring an additional 1,371 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in DT Midstream by 1.6% in the first quarter. NewEdge Advisors LLC now owns 13,631 shares of the company's stock valued at $1,315,000 after acquiring an additional 218 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DTM. Mizuho lifted their target price on DT Midstream from $105.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Barclays lifted their target price on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Stifel Nicolaus lifted their target price on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Morgan Stanley lifted their target price on DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company increased their price objective on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $110.67.

Insider Activity

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 transaction, the vice president owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company's stock.

DT Midstream Price Performance

Shares of NYSE DTM traded down $0.04 during trading on Monday, hitting $106.46. The company had a trading volume of 145,757 shares, compared to its average volume of 967,766. The company has a market cap of $10.82 billion, a P/E ratio of 28.52, a PEG ratio of 2.35 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $76.12 and a 52 week high of $114.50. The business's 50-day moving average is $103.25 and its 200 day moving average is $101.02. 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 (NYSE:DTM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (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 analysts' expectations 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 earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 annualized dividend and a dividend yield of 3.1%. DT Midstream's dividend payout ratio is currently 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.