Bank of Montreal Can Sells 250,939 Shares of DT Midstream, Inc. $DTM

Bank of Montreal Can cut its position in shares of DT Midstream, Inc. (NYSE:DTM) by 58.5% during the second quarter, Holdings Channel reports. The institutional investor owned 178,070 shares of the company’s stock after selling 250,939 shares during the quarter. Bank of Montreal Can’s holdings in DT Midstream were worth $19,572,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. OneDigital Investment Advisors LLC acquired a new stake in shares of DT Midstream during the 1st quarter worth approximately $274,000. Envestnet Asset Management Inc. lifted its position in DT Midstream by 3.1% in the first quarter. Envestnet Asset Management Inc. now owns 222,541 shares of the company’s stock worth $21,471,000 after purchasing an additional 6,715 shares during the period. Crossmark Global Holdings Inc. boosted its stake in DT Midstream by 4.4% during the first quarter. Crossmark Global Holdings Inc. now owns 9,556 shares of the company’s stock worth $922,000 after buying an additional 405 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in DT Midstream by 3.9% in the 1st quarter. Nisa Investment Advisors LLC now owns 16,171 shares of the company’s stock valued at $1,573,000 after buying an additional 600 shares during the period. Finally, Cerity Partners LLC increased its holdings in DT Midstream by 2.8% in the 1st quarter. Cerity Partners LLC now owns 17,033 shares of the company’s stock valued at $1,644,000 after buying an additional 471 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE DTM opened at $113.87 on Friday. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.38 and a beta of 0.77. The company has a 50 day moving average of $109.19 and a 200-day moving average of $105.37. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $115.80.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, October 30th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.03 by $0.10. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.The business had revenue of $309.16 million for the quarter, compared to the consensus estimate of $309.21 million. During the same period in the previous year, the business earned $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, equities analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be paid a $0.82 dividend. The ex-dividend date is Monday, December 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.9%. DT Midstream’s dividend payout ratio (DPR) is 82.83%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DTM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, October 8th. UBS Group increased their price target on shares of DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Jefferies Financial Group began coverage on DT Midstream in a report on Monday. They set a “buy” rating and a $125.00 price objective on the stock. Mizuho upped their price objective on DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a research note on Friday, August 29th. Finally, Citigroup raised their target price on DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $116.00.

Insider Activity

In related news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is owned by corporate 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.