Goldman Sachs Group Inc. Has $268.05 Million Stake in DT Midstream, Inc. $DTM

Goldman Sachs Group Inc. trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 14.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,778,253 shares of the company’s stock after selling 483,211 shares during the period. Goldman Sachs Group Inc. owned approximately 2.73% of DT Midstream worth $268,046,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of DT Midstream during the first quarter worth approximately $25,000. Alpine Bank Wealth Management acquired a new position in shares of DT Midstream during the first quarter worth approximately $26,000. Twin Tree Management LP acquired a new position in shares of DT Midstream during the first quarter worth approximately $29,000. Bessemer Group Inc. lifted its position in shares of DT Midstream by 44.0% during the first quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 135 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock worth $47,000 after purchasing an additional 276 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the completion of the sale, the vice president owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

DT Midstream Stock Up 0.4%

Shares of NYSE:DTM opened at $104.92 on Wednesday. DT Midstream, Inc. has a 52 week low of $73.52 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market capitalization of $10.66 billion, a PE ratio of 28.13, a PEG ratio of 2.28 and a beta of 0.77. The company has a 50 day moving average price of $103.18 and a two-hundred day moving average price of $100.72.

DT Midstream (NYSE:DTM) last issued its earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. 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 prior year, the firm earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current 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 paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream’s dividend payout ratio is presently 87.94%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Barclays upped their target price on shares of DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 20th. Mizuho increased their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Morgan Stanley increased their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a report on Wednesday, August 6th. Stifel Nicolaus increased their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company increased their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.67.

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.