Yaupon Capital Management LP Increases Stake in DT Midstream, Inc. $DTM

Key Points

• Yaupon Capital Management LP increased its stake in DT Midstream, Inc. by 7.0%, acquiring an additional 14,121 shares to own a total of 216,497 shares valued at approximately $20.89 million.
• DT Midstream announced a quarterly dividend of $0.82 per share, scheduled for payment on October 15th, with a yield of 3.1%.
• Analysts have recently raised their price targets for DT Midstream, with Wells Fargo increasing it to $117.00, indicating a positive outlook for the stock.

Yaupon Capital Management LP grew its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 7.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 216,497 shares of the company's stock after purchasing an additional 14,121 shares during the quarter. Yaupon Capital Management LP owned approximately 0.21% of DT Midstream worth $20,888,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company's stock valued at $1,078,161,000 after buying an additional 621,183 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in DT Midstream by 21.8% during the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company's stock worth $152,712,000 after buying an additional 282,870 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of DT Midstream by 11.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company's stock worth $119,326,000 after acquiring an additional 131,138 shares in the last quarter. Northern Trust Corp increased its holdings in shares of DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company's stock valued at $111,615,000 after acquiring an additional 94,470 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of DT Midstream by 0.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company's stock worth $110,790,000 after acquiring an additional 5,218 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

Insider Buying and Selling

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

DT Midstream Stock Performance

DTM stock traded down $0.07 on Friday, hitting $107.27. The company's stock had a trading volume of 474,326 shares, compared to its average volume of 972,675. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.34 and a beta of 0.77. The firm has a 50 day moving average of $103.23 and a two-hundred day moving average of $100.84. 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 1 year low of $75.56 and a 1 year high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same period last year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

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

Wall Street Analysts Forecast Growth

DTM has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price target on DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a report on Friday, August 1st. Morgan Stanley boosted their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Wells Fargo & Company upped their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Mizuho lifted their price target on shares of DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a research note on Friday, August 29th. Finally, Barclays boosted their price target on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $110.67.

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.