DAVENPORT & Co LLC Invests $204,000 in DT Midstream, Inc. $DTM

DAVENPORT & Co LLC bought a new position in DT Midstream, Inc. (NYSE:DTM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,858 shares of the company’s stock, valued at approximately $204,000.

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

Insider Activity at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the transaction, 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 through this hyperlink. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company upped their target price on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. UBS Group raised their target price on DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, October 8th. Barclays raised their target price on DT Midstream from $103.00 to $114.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a research report on Wednesday, August 6th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and an average target price of $114.17.

DT Midstream Trading Up 0.4%

Shares of DT Midstream stock opened at $109.91 on Tuesday. The firm has a market capitalization of $11.17 billion, a PE ratio of 29.47, a P/E/G ratio of 2.39 and a beta of 0.78. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $115.80. The firm’s 50-day moving average price is $106.84 and its 200 day moving average price is $103.35. 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 announced its earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating 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 analysts’ expectations of $295.70 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, sell-side analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal 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 issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. DT Midstream’s dividend payout ratio is presently 87.94%.

About DT Midstream

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.