McKinley Carter Wealth Services Inc. Acquires New Shares in DT Midstream, Inc. $DTM

McKinley Carter Wealth Services Inc. acquired a new stake in DT Midstream, Inc. (NYSE:DTM) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 1,997 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after purchasing an additional 621,183 shares during the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in shares of DT Midstream by 21.8% in the 1st 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of DT Midstream by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company’s stock valued at $119,326,000 after purchasing an additional 131,138 shares during the last quarter. Northern Trust Corp raised its holdings in DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company’s stock worth $111,615,000 after acquiring an additional 94,470 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in DT Midstream by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company’s stock worth $110,790,000 after acquiring an additional 5,218 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Stock Performance

NYSE:DTM opened at $109.66 on Friday. The firm’s 50-day moving average is $106.76 and its 200-day moving average is $103.18. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $115.80. 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 cap of $11.14 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 2.43 and a beta of 0.78.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $299.00 million for the quarter, compared to the consensus estimate of $295.70 million. During the same quarter in the previous year, the firm posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream’s dividend payout ratio is 87.94%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DTM shares. Wells Fargo & Company lifted their target price on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Citigroup lifted their target price on shares of DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday. UBS Group lifted their target price on shares of DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Finally, Morgan Stanley lifted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $114.17.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the sale, the vice president directly owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

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.