Envestnet Portfolio Solutions Inc. Increases Position in DT Midstream, Inc. $DTM

Envestnet Portfolio Solutions Inc. lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 179.2% during the second quarter, Holdings Channel reports. The fund owned 16,928 shares of the company’s stock after acquiring an additional 10,864 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in DT Midstream were worth $1,861,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of DTM. Ballentine Partners LLC boosted its stake in DT Midstream by 4.2% in the second quarter. Ballentine Partners LLC now owns 2,604 shares of the company’s stock valued at $286,000 after acquiring an additional 106 shares in the last quarter. Independent Advisor Alliance boosted its stake in DT Midstream by 2.5% in the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company’s stock valued at $455,000 after acquiring an additional 117 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in DT Midstream by 39.3% in the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after acquiring an additional 123 shares in the last quarter. Bessemer Group Inc. boosted its stake in DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock valued at $43,000 after acquiring an additional 135 shares in the last quarter. Finally, Applied Finance Capital Management LLC boosted its stake in DT Midstream by 6.5% in the first quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company’s stock valued at $233,000 after acquiring an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of DTM opened at $109.64 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $11.14 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.44 and a beta of 0.78. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $115.80. The firm has a 50-day simple moving average of $107.24 and a 200-day simple moving average of $103.54.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter last year, the firm earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were given a $0.82 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. DT Midstream’s dividend payout ratio (DPR) is presently 87.94%.

Wall Street Analyst Weigh In

DTM has been the subject of several research analyst reports. Stifel Nicolaus set a $119.00 price objective on shares of DT Midstream in a research note on Tuesday. Morgan Stanley upped their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Mizuho increased their target price 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, Weiss Ratings reiterated 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 given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $115.08.

Insider Buying and Selling

In related news, VP Melissa Cox sold 4,755 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares in the company, valued at $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by insiders.

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.