UMB Bank n.a. Boosts Holdings in DT Midstream, Inc. $DTM

UMB Bank n.a. raised its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 52.1% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,100 shares of the company’s stock after buying an additional 377 shares during the period. UMB Bank n.a.’s holdings in DT Midstream were worth $121,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after acquiring an additional 621,183 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of DT Midstream by 9,693.3% during the 1st quarter. GAMMA Investing LLC now owns 390,262 shares of the company’s stock worth $37,652,000 after purchasing an additional 386,277 shares during the period. Jane Street Group LLC increased its holdings in shares of DT Midstream by 1,699.5% during the 1st quarter. Jane Street Group LLC now owns 401,170 shares of the company’s stock valued at $38,705,000 after purchasing an additional 378,877 shares in the last quarter. Nuveen LLC acquired a new position in shares of DT Midstream in the 1st quarter valued at $33,529,000. Finally, HITE Hedge Asset Management LLC acquired a new position in shares of DT Midstream in the 1st quarter valued at $31,139,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus increased their target price on shares of DT Midstream from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Mizuho upped their price target on DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday, August 29th. Morgan Stanley raised their price objective on DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Finally, Wells Fargo & Company boosted their price objective on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Six 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, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $110.67.

DT Midstream Price Performance

NYSE:DTM opened at $110.49 on Thursday. The stock has a 50 day moving average of $103.95 and a two-hundred day moving average of $101.74. DT Midstream, Inc. has a 12 month low of $76.91 and a 12 month high of $114.50. The firm has a market cap of $11.22 billion, a P/E ratio of 29.62, a price-to-earnings-growth ratio of 2.41 and a beta of 0.77. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. During the same period in the previous year, the company posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. DT Midstream’s dividend payout ratio is 87.94%.

Insider Buying and Selling at DT Midstream

In other 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 transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

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.