Empowered Funds LLC Sells 1,031 Shares of DT Midstream, Inc. $DTM

Empowered Funds LLC lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 1.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 59,827 shares of the company’s stock after selling 1,031 shares during the quarter. Empowered Funds LLC’s holdings in DT Midstream were worth $6,576,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in DTM. Twin Tree Management LP bought a new stake in shares of DT Midstream in the first quarter worth approximately $29,000. Parkside Financial Bank & Trust lifted its position in DT Midstream by 138.2% during the second quarter. Parkside Financial Bank & Trust now owns 312 shares of the company’s stock valued at $34,000 after purchasing an additional 181 shares during the period. Trust Co. of Toledo NA OH purchased a new stake in DT Midstream in the second quarter worth approximately $38,000. Geneos Wealth Management Inc. grew its position in DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after purchasing an additional 123 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in DT Midstream in the 1st quarter worth approximately $81,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 0.9%

Shares of DTM opened at $116.23 on Friday. The company’s fifty day simple moving average is $110.93 and its 200-day simple moving average is $106.41. The company has a market cap of $11.82 billion, a P/E ratio of 29.35, a P/E/G ratio of 2.25 and a beta of 0.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $118.81.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $1.03 by $0.10. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. The company had revenue of $314.00 million for the quarter, compared to the consensus estimate of $309.21 million. During the same period in the prior year, the firm posted $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. As a group, analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 2.8%. The ex-dividend date is Monday, December 15th. DT Midstream’s dividend payout ratio is presently 82.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DTM shares. Morgan Stanley increased their price target on DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Mizuho upped their price objective on DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Jefferies Financial Group started coverage on DT Midstream in a report on Monday, November 3rd. They issued a “buy” rating and a $125.00 target price on the stock. Stifel Nicolaus raised their target price on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Citigroup upped their price target on shares of DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $117.46.

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.