TD Waterhouse Canada Inc. Sells 10,502 Shares of DT Midstream, Inc. $DTM

TD Waterhouse Canada Inc. reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 52.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,477 shares of the company’s stock after selling 10,502 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in DT Midstream were worth $1,362,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Concurrent Investment Advisors LLC lifted its position in DT Midstream by 73.3% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 3,002 shares of the company’s stock valued at $441,000 after acquiring an additional 1,270 shares in the last quarter. NEOS Investment Management LLC increased its holdings in DT Midstream by 50.6% during the 2nd quarter. NEOS Investment Management LLC now owns 210,368 shares of the company’s stock worth $30,869,000 after purchasing an additional 70,650 shares in the last quarter. iSAM Funds UK Ltd bought a new stake in DT Midstream during the 2nd quarter worth approximately $249,000. Continuum Advisory LLC purchased a new stake in shares of DT Midstream in the second quarter worth approximately $36,000. Finally, Nykredit A S purchased a new stake in shares of DT Midstream in the second quarter worth approximately $749,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $131.22 on Wednesday. The business’s fifty day simple moving average is $137.30 and its 200 day simple moving average is $139.15. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.68. DT Midstream, Inc. has a 12 month low of $104.25 and a 12 month high of $152.88. The firm has a market capitalization of $13.39 billion, a P/E ratio of 28.71, a price-to-earnings-growth ratio of 3.64 and a beta of 0.70.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.08). DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. The business had revenue of $332.57 million during the quarter, compared to the consensus estimate of $325.84 million. During the same quarter last year, the company earned $1.04 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. As a group, analysts anticipate that DT Midstream, Inc. will post 4.55 EPS for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Monday, September 21st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Monday, September 21st. DT Midstream’s payout ratio is 77.02%.

Wall Street Analysts Forecast Growth

DTM has been the subject of several recent research reports. Morgan Stanley upped their price target on DT Midstream from $165.00 to $170.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. Mizuho dropped their price objective on DT Midstream from $153.00 to $147.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. UBS Group upped their target price on shares of DT Midstream from $152.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of DT Midstream from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Scotiabank assumed coverage on shares of DT Midstream in a report on Tuesday, May 26th. They set an “outperform” rating and a $176.00 price target on the stock. Nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, DT Midstream has a consensus rating of “Moderate Buy” and an average price target of $153.43.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.