Harbor Capital Advisors Inc. Invests $577,000 in DT Midstream, Inc. $DTM

Harbor Capital Advisors Inc. purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 5,103 shares of the company’s stock, valued at approximately $577,000.

A number of other large investors also recently bought and sold shares of DTM. Vanguard Group Inc. grew its stake in shares of DT Midstream by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company’s stock worth $1,247,674,000 after purchasing an additional 176,813 shares during the period. 59 North Capital Management LP acquired a new position in shares of DT Midstream in the 2nd quarter valued at $226,757,000. Invesco Ltd. boosted its holdings in DT Midstream by 15.4% during the second quarter. Invesco Ltd. now owns 1,664,052 shares of the company’s stock worth $182,896,000 after buying an additional 222,586 shares in the last quarter. Norges Bank acquired a new stake in DT Midstream during the second quarter valued at $143,743,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in DT Midstream by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company’s stock valued at $119,326,000 after buying an additional 131,138 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DTM shares. Citigroup increased their target price on shares of DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their price target on DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 2nd. Stifel Nicolaus boosted their price objective on DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, October 8th. Finally, Bank of America lifted their price target on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.25.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $120.55 on Monday. The stock has a market capitalization of $12.26 billion, a P/E ratio of 30.44, a PEG ratio of 2.32 and a beta of 0.76. The business has a 50 day simple moving average of $115.53 and a two-hundred day simple moving average of $109.30. DT Midstream, Inc. has a 12 month low of $83.30 and a 12 month high of $122.70. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92.

DT Midstream (NYSE:DTM) last issued its quarterly 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 return on equity of 8.83% and a net margin of 34.30%.The firm had revenue of $314.00 million for the quarter, compared to analyst estimates of $309.21 million. During the same period in the previous year, the company posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. As a group, analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.7%. DT Midstream’s dividend payout ratio is presently 82.83%.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.