Deroy & Devereaux Private Investment Counsel Inc. Sells 4,025 Shares of DT Midstream, Inc. $DTM

Deroy & Devereaux Private Investment Counsel Inc. lowered its stake in DT Midstream, Inc. (NYSE:DTM) by 1.2% during the second quarter, Holdings Channel.com reports. The firm owned 341,477 shares of the company’s stock after selling 4,025 shares during the quarter. DT Midstream accounts for about 2.0% of Deroy & Devereaux Private Investment Counsel Inc.’s portfolio, making the stock its 9th largest position. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in DT Midstream were worth $37,532,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DTM. Farther Finance Advisors LLC raised its position in DT Midstream by 24.7% in the 1st quarter. Farther Finance Advisors LLC now owns 1,495 shares of the company’s stock valued at $147,000 after purchasing an additional 296 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of DT Midstream by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,642 shares of the company’s stock valued at $1,220,000 after acquiring an additional 812 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of DT Midstream by 59.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,848 shares of the company’s stock valued at $1,626,000 after acquiring an additional 6,271 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of DT Midstream by 1.9% in the 1st quarter. State of Alaska Department of Revenue now owns 42,645 shares of the company’s stock valued at $4,113,000 after acquiring an additional 795 shares during the last quarter. Finally, Friedenthal Financial increased its holdings in shares of DT Midstream by 17.9% in the 1st quarter. Friedenthal Financial now owns 9,055 shares of the company’s stock valued at $874,000 after acquiring an additional 1,374 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream 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 in the company, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Barclays increased their price objective on DT Midstream from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Mizuho increased their price objective on DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Citigroup increased their price objective on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Wells Fargo & Company increased their price objective on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, October 8th. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $115.08.

DT Midstream Trading Up 0.1%

NYSE:DTM opened at $110.06 on Wednesday. The stock’s 50 day moving average price is $106.97 and its 200 day moving average price is $103.39. The company has a market capitalization of $11.18 billion, a PE ratio of 29.51, a P/E/G ratio of 2.40 and a beta of 0.78. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $115.80.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.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 business posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. DT Midstream’s dividend payout ratio (DPR) is 87.94%.

DT Midstream 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.