Farther Finance Advisors LLC Increases Position in DT Midstream, Inc. $DTM

Farther Finance Advisors LLC lifted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,809 shares of the company’s stock after acquiring an additional 314 shares during the quarter. Farther Finance Advisors LLC’s holdings in DT Midstream were worth $199,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its holdings in DT Midstream by 26.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,830 shares of the company’s stock valued at $1,176,000 after buying an additional 2,510 shares during the last quarter. Versant Capital Management Inc increased its holdings in DT Midstream by 130.2% in the first quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock valued at $47,000 after buying an additional 276 shares during the last quarter. GAMMA Investing LLC increased its holdings in DT Midstream by 9,693.3% in the first quarter. GAMMA Investing LLC now owns 390,262 shares of the company’s stock valued at $37,652,000 after buying an additional 386,277 shares during the last quarter. Rhumbline Advisers increased its holdings in DT Midstream by 2.2% in the first quarter. Rhumbline Advisers now owns 290,646 shares of the company’s stock valued at $28,041,000 after buying an additional 6,118 shares during the last quarter. Finally, Merit Financial Group LLC increased its holdings in DT Midstream by 15.1% in the first quarter. Merit Financial Group LLC now owns 5,308 shares of the company’s stock valued at $512,000 after buying an additional 697 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the company’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 completion of the sale, the vice president directly owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho boosted their price objective on DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on DT Midstream from $114.00 to $118.00 and gave the stock a “neutral” rating in a research report on Monday. 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. Stifel Nicolaus increased their price target on DT Midstream from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company increased their price target on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $110.92.

DT Midstream Stock Performance

Shares of DTM stock opened at $114.16 on Thursday. DT Midstream, Inc. has a 12-month low of $77.93 and a 12-month high of $114.58. The firm has a market capitalization of $11.60 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The business has a 50 day simple moving average of $105.13 and a 200 day simple moving average of $102.47. 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 issued its quarterly earnings data 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 business had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. During the same period in the prior year, the company posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities research analysts anticipate 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 Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.82 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 2.9%. DT Midstream’s payout ratio is 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.