DT Midstream, Inc. $DTM Shares Acquired by Corebridge Financial Inc.

Corebridge Financial Inc. lifted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 1.8% during the first quarter, Holdings Channel reports. The fund owned 111,914 shares of the company’s stock after purchasing an additional 1,980 shares during the quarter. Corebridge Financial Inc.’s holdings in DT Midstream were worth $10,797,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after acquiring an additional 621,183 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company’s stock valued at $281,569,000 after acquiring an additional 147,790 shares during the last quarter. Blackstone Inc. increased its stake in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after purchasing an additional 1,574,705 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in DT Midstream by 21.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company’s stock valued at $152,712,000 after purchasing an additional 282,870 shares during the last quarter. Finally, Northern Trust Corp increased its stake in DT Midstream by 8.9% in the first quarter. Northern Trust Corp now owns 1,156,867 shares of the company’s stock valued at $111,615,000 after purchasing an additional 94,470 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM stock opened at $101.96 on Thursday. The stock has a 50-day moving average price of $103.69 and a two-hundred day moving average price of $100.46. DT Midstream, Inc. has a 12-month low of $73.52 and a 12-month high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The company has a market cap of $10.36 billion, a PE ratio of 27.33, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (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 firm had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the previous year, the business earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, research analysts predict 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. Shareholders of record on Monday, September 15th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.2%. DT Midstream’s dividend payout ratio (DPR) is 87.94%.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

DTM has been the subject of several analyst reports. Stifel Nicolaus upped their target price on DT Midstream from $102.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Barclays upped their target price on DT Midstream from $102.00 to $103.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. Morgan Stanley upped their target price on DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company lifted their target price on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $110.91.

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.