Vestcor Inc Sells 9,056 Shares of DT Midstream, Inc. $DTM

Key Points

• Vestcor Inc cut its stake in DT Midstream by 49% in the fourth quarter, selling 9,056 shares and leaving it with 9,431 shares valued at about $1.13 million.
• Institutional interest in DT Midstream remained strong overall, with several funds adding positions and about 81.5% of the stock now held by institutional investors.
• The company beat quarterly expectations, posting $1.27 EPS on revenue of $336 million, while also announcing a $0.88 quarterly dividend and maintaining a Moderate Buy analyst consensus.

Vestcor Inc trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 49.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,431 shares of the company's stock after selling 9,056 shares during the quarter. Vestcor Inc's holdings in DT Midstream were worth $1,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nordea Investment Management AB bought a new position in DT Midstream in the 4th quarter worth about $1,371,000. JPMorgan Chase & Co. increased its stake in DT Midstream by 7.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 871,636 shares of the company's stock worth $98,538,000 after acquiring an additional 63,438 shares during the last quarter. Principal Financial Group Inc. increased its stake in DT Midstream by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 513,541 shares of the company's stock worth $61,462,000 after acquiring an additional 13,212 shares during the last quarter. Bahl & Gaynor Inc. increased its stake in DT Midstream by 2.5% in the 3rd quarter. Bahl & Gaynor Inc. now owns 568,445 shares of the company's stock worth $64,268,000 after acquiring an additional 14,127 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in DT Midstream by 139.8% in the 4th quarter. SG Americas Securities LLC now owns 62,986 shares of the company's stock worth $7,538,000 after acquiring an additional 36,722 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DTM shares. Citigroup upped their target price on DT Midstream from $156.00 to $169.00 and gave the stock a "buy" rating in a research note on Monday, May 4th. Jefferies Financial Group restated a "buy" rating and issued a $166.00 target price on shares of DT Midstream in a research note on Friday, May 1st. JPMorgan Chase & Co. upped their target price on DT Midstream from $126.00 to $142.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. The Goldman Sachs Group upped their target price on DT Midstream from $111.00 to $127.00 and gave the stock a "sell" rating in a research note on Monday, April 20th. Finally, Morgan Stanley upped their target price on DT Midstream from $165.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $154.46.

DT Midstream Price Performance

DTM opened at $141.37 on Tuesday. The stock has a 50-day moving average price of $140.08 and a 200-day moving average price of $131.19. DT Midstream, Inc. has a 12-month low of $98.06 and a 12-month high of $152.88. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $14.42 billion, a P/E ratio of 31.28, a PEG ratio of 3.11 and a beta of 0.72.

DT Midstream (NYSE:DTM - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.16. The company had revenue of $336.00 million during the quarter, compared to analysts' expectations of $313.65 million. DT Midstream had a return on equity of 9.53% and a net margin of 36.28%.During the same period in the prior year, the business posted $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. Equities analysts predict that DT Midstream, Inc. will post 4.75 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a dividend of $0.88 per share. The ex-dividend date is Monday, June 15th. This represents a $3.52 annualized dividend and a yield of 2.5%. DT Midstream's dividend payout ratio is currently 77.88%.

DT Midstream Profile

DT Midstream Inc NYSE: DTM is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.

Want to see what other hedge funds are holding DTM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DT Midstream, Inc. (NYSE:DTM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.