Millennium Management LLC Boosts Stock Position in DT Midstream, Inc. $DTM

Millennium Management LLC grew its stake in DT Midstream, Inc. (NYSE:DTM) by 86.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 349,247 shares of the company’s stock after purchasing an additional 162,163 shares during the period. Millennium Management LLC owned approximately 0.34% of DT Midstream worth $33,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Ballentine Partners LLC grew its position in shares of DT Midstream by 4.8% in the first quarter. Ballentine Partners LLC now owns 2,498 shares of the company’s stock valued at $241,000 after purchasing an additional 114 shares in the last quarter. Independent Advisor Alliance increased its stake in DT Midstream by 2.5% during the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company’s stock worth $455,000 after acquiring an additional 117 shares during the last quarter. Bessemer Group Inc. raised its position in DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock valued at $43,000 after purchasing an additional 135 shares during the period. Applied Finance Capital Management LLC raised its position in DT Midstream by 6.5% in the first quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company’s stock valued at $233,000 after purchasing an additional 147 shares during the period. Finally, Secure Asset Management LLC raised its position in DT Midstream by 6.8% in the first quarter. Secure Asset Management LLC now owns 2,470 shares of the company’s stock valued at $238,000 after purchasing an additional 157 shares during the period. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DTM shares. Mizuho lifted their target price on DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Stifel Nicolaus lifted their target price on DT Midstream from $102.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Morgan Stanley lifted 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. Barclays lifted their target price on DT Midstream from $102.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company upped their price target on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $110.67.

DT Midstream Stock Up 1.8%

NYSE:DTM opened at $106.96 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock’s fifty day moving average is $103.20 and its two-hundred day moving average is $100.77. DT Midstream, Inc. has a 52 week low of $73.52 and a 52 week high of $114.50. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.04 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 company had revenue of $299.00 million for the quarter, compared to analysts’ expectations of $295.70 million. During the same period 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. Research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Monday, September 15th. DT Midstream’s dividend payout ratio (DPR) is presently 87.94%.

Insider Activity

In other news, VP Melissa Cox sold 4,755 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the sale, the vice president directly owned 5,171 shares in the company, valued at approximately $540,214.37. This trade 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 accessible through the SEC website. Insiders own 0.34% of the company’s stock.

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.