Bernard Wealth Management Corp. Buys 510 Shares of DT Midstream, Inc. $DTM

Bernard Wealth Management Corp. lifted its stake in DT Midstream, Inc. (NYSE:DTM) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 17,344 shares of the company’s stock after acquiring an additional 510 shares during the quarter. DT Midstream accounts for 0.9% of Bernard Wealth Management Corp.’s holdings, making the stock its 23rd largest position. Bernard Wealth Management Corp.’s holdings in DT Midstream were worth $1,906,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in DTM. Vanguard Group Inc. increased its position in DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock worth $1,078,161,000 after buying an additional 621,183 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in 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 buying an additional 282,870 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in 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 buying an additional 131,138 shares in the last quarter. Northern Trust Corp boosted its stake in DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company’s stock valued at $111,615,000 after buying an additional 94,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 valued at $110,790,000 after buying an additional 5,218 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on DTM. Citigroup boosted their price objective on DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday. Wells Fargo & Company increased their target price on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Morgan Stanley increased 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. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday. Finally, JPMorgan Chase & Co. lifted their target price on DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Seven equities research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $114.17.

DT Midstream Stock Performance

DTM opened at $109.66 on Friday. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $115.80. The stock 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. The business has a 50 day moving average of $106.76 and a 200-day moving average of $103.18. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM) last released its quarterly earnings data 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 company had revenue of $299.00 million during the quarter, compared to analysts’ expectations of $295.70 million. During the same period last year, the firm posted $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities research analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a dividend of $0.82 per share. 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 (DPR) is presently 87.94%.

Insiders Place Their Bets

In related 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 completion of the sale, the vice president directly owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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.