Castleark Management LLC Raises Holdings in DT Midstream, Inc. $DTM

Castleark Management LLC raised its stake in DT Midstream, Inc. (NYSE:DTM) by 173.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,370 shares of the company’s stock after purchasing an additional 7,850 shares during the period. Castleark Management LLC’s holdings in DT Midstream were worth $1,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in DTM. Cary Street Partners Investment Advisory LLC acquired a new stake in DT Midstream in the second quarter valued at approximately $33,000. WFA of San Diego LLC purchased a new stake in shares of DT Midstream in the 2nd quarter valued at approximately $33,000. Twin Tree Management LP purchased a new stake in shares of DT Midstream during the 1st quarter worth $29,000. Parkside Financial Bank & Trust lifted its position in shares of DT Midstream by 138.2% during the 2nd quarter. Parkside Financial Bank & Trust now owns 312 shares of the company’s stock worth $34,000 after purchasing an additional 181 shares during the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in shares of DT Midstream during the second quarter worth $38,000. 81.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Citigroup raised their price target on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. raised their target price on DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Morgan Stanley upped their price target on DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Stifel Nicolaus increased their price target on shares of DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, 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 research report on Friday, August 29th. Eight research 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.com, the company presently has a consensus rating of “Hold” and an average target price of $119.77.

DT Midstream Price Performance

Shares of NYSE DTM opened at $120.98 on Monday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $122.70. The stock has a 50 day moving average of $113.92 and a two-hundred day moving average of $108.35. The stock has a market cap of $12.30 billion, a P/E ratio of 30.55, a P/E/G ratio of 2.33 and a beta of 0.76.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. The business had revenue of $314.00 million for the quarter, compared to analyst estimates of $309.21 million. During the same period last year, the firm posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be paid a $0.82 dividend. The ex-dividend date is Monday, December 15th. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. DT Midstream’s payout ratio is currently 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.