DT Midstream, Inc. $DTM Shares Purchased by ELCO Management Co. LLC

ELCO Management Co. LLC increased its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 16.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,050 shares of the company’s stock after acquiring an additional 425 shares during the period. ELCO Management Co. LLC’s holdings in DT Midstream were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Mowery & Schoenfeld Wealth Management LLC purchased a new position in DT Midstream during the first quarter worth approximately $25,000. Twin Tree Management LP purchased a new position in DT Midstream during the first quarter worth approximately $29,000. Trust Co. of Toledo NA OH purchased a new position in DT Midstream during the second quarter worth approximately $38,000. Geneos Wealth Management Inc. boosted its position in DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after purchasing an additional 123 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 135 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $496,754.85. Following the transaction, the vice president owned 5,171 shares in the company, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DTM shares. Barclays increased their price target on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Morgan Stanley increased their price target on DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Citigroup raised their target price on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Wells Fargo & Company raised their target price on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, DT Midstream has an average rating of “Hold” and an average target price of $115.08.

DT Midstream Stock Performance

NYSE DTM opened at $106.68 on Wednesday. The company has a market cap of $10.84 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78. The stock’s 50 day simple moving average is $107.92 and its 200-day simple moving average is $104.57. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $115.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88.

DT Midstream (NYSE:DTM) last released 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 business had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same quarter last year, the business posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were given a dividend of $0.82 per share. The ex-dividend date was Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. DT Midstream’s dividend payout ratio (DPR) is presently 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.