DT Midstream, Inc. $DTM Shares Sold by Elm3 Financial Group LLC

Elm3 Financial Group LLC lessened its holdings in DT Midstream, Inc. (NYSE:DTM) by 8.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,324 shares of the company’s stock after selling 515 shares during the period. Elm3 Financial Group LLC’s holdings in DT Midstream were worth $585,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Ballentine Partners LLC raised its holdings in DT Midstream by 4.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,604 shares of the company’s stock valued at $286,000 after buying an additional 106 shares during the period. Independent Advisor Alliance increased its position in shares of DT Midstream by 2.5% during the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company’s stock valued at $455,000 after acquiring an additional 117 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after acquiring an additional 123 shares during the period. Bessemer Group Inc. raised its stake in shares of DT Midstream by 44.0% in the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock valued at $43,000 after acquiring an additional 135 shares during the period. Finally, Applied Finance Capital Management LLC lifted its holdings in shares of DT Midstream by 6.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company’s stock worth $233,000 after acquiring an additional 147 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. JPMorgan Chase & Co. boosted 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. Morgan Stanley lifted their price objective on DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Stifel Nicolaus increased their target price on DT Midstream from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a report on Saturday, September 27th. Finally, Wells Fargo & Company increased their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $112.00.

DT Midstream Price Performance

Shares of NYSE DTM opened at $114.41 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 2.50 and a beta of 0.78. The stock’s 50-day moving average is $105.98 and its two-hundred day moving average is $102.89. DT Midstream, Inc. has a 1-year low of $82.39 and a 1-year high of $115.80.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping 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 business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same period in the previous year, the company posted $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 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 2.9%. DT Midstream’s dividend payout ratio is currently 87.94%.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction on Monday, August 11th. The shares were 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. The trade was a 47.90% decrease in their position. The transaction 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.

About DT Midstream

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.