DT Midstream, Inc. $DTM Position Lifted by Dorsey Wright & Associates

Dorsey Wright & Associates grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 63,188 shares of the company’s stock after purchasing an additional 1,608 shares during the quarter. DT Midstream makes up about 1.7% of Dorsey Wright & Associates’ holdings, making the stock its 16th largest position. Dorsey Wright & Associates’ holdings in DT Midstream were worth $6,945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after purchasing an additional 621,183 shares in the last quarter. Jane Street Group LLC increased its holdings in DT Midstream by 1,699.5% in the first quarter. Jane Street Group LLC now owns 401,170 shares of the company’s stock valued at $38,705,000 after buying an additional 378,877 shares during the last quarter. Nuveen LLC acquired a new stake in DT Midstream during the first quarter valued at approximately $33,529,000. HITE Hedge Asset Management LLC acquired a new stake in DT Midstream during the first quarter valued at approximately $31,139,000. Finally, AQR Capital Management LLC lifted its holdings in DT Midstream by 59.9% during the 1st quarter. AQR Capital Management LLC now owns 804,745 shares of the company’s stock worth $77,247,000 after buying an additional 301,355 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DTM. Stifel Nicolaus upped their price target on DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Jefferies Financial Group started coverage on shares of DT Midstream in a research note on Monday, November 3rd. They set a “buy” rating and a $125.00 target price for the company. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, October 8th. Citigroup lifted their price target on shares of DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Barclays boosted their price objective on shares of DT Midstream from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $117.46.

DT Midstream Stock Performance

DTM stock opened at $113.65 on Wednesday. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $117.12. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The stock’s fifty day moving average is $110.58 and its two-hundred day moving average is $106.28.

DT Midstream (NYSE:DTM) last released its quarterly 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. The business had revenue of $314.00 million during the quarter, compared to analyst estimates of $309.21 million. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. During the same quarter in the prior year, the firm earned $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

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

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.