Parallel Advisors LLC Has $648,000 Stake in DT Midstream, Inc. $DTM

Parallel Advisors LLC increased its position in DT Midstream, Inc. (NYSE:DTM) by 5.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,892 shares of the company’s stock after purchasing an additional 312 shares during the period. Parallel Advisors LLC’s holdings in DT Midstream were worth $648,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC bought a new position in DT Midstream in the 1st quarter worth $25,000. Alpine Bank Wealth Management bought a new position in shares of DT Midstream during the 1st quarter worth about $26,000. Twin Tree Management LP bought a new position in shares of DT Midstream during the 1st quarter worth about $29,000. Geneos Wealth Management Inc. increased its holdings in shares of DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after purchasing an additional 123 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Up 0.3%

DTM opened at $107.73 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77. The firm has a 50 day simple moving average of $103.53 and a 200 day simple moving average of $101.25. DT Midstream, Inc. has a fifty-two week low of $76.13 and a fifty-two week high of $114.50.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same period in the previous year, the firm posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, sell-side 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 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 yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream’s dividend payout ratio is presently 87.94%.

Insider Buying and Selling

In other news, VP Melissa Cox sold 4,755 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares of the company’s stock, valued at $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the topic of several research reports. Mizuho boosted their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Stifel Nicolaus upped their target price on shares of DT Midstream from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Morgan Stanley upped their target price 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. Finally, Wells Fargo & Company upped their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $110.67.

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.