DT Midstream, Inc. $DTM Shares Bought by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. raised its position in DT Midstream, Inc. (NYSE:DTM) by 7.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 14,628 shares of the company’s stock after acquiring an additional 1,038 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in DT Midstream were worth $1,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brookstone Capital Management acquired a new position in shares of DT Midstream during the 2nd quarter worth approximately $276,000. D.A. Davidson & CO. acquired a new position in shares of DT Midstream during the 2nd quarter worth approximately $212,000. Legacy Wealth Asset Management LLC boosted its holdings in shares of DT Midstream by 42.0% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 4,635 shares of the company’s stock worth $509,000 after purchasing an additional 1,372 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of DT Midstream during the 2nd quarter worth approximately $686,000. Finally, Mutual Advisors LLC acquired a new position in shares of DT Midstream during the 2nd quarter worth approximately $257,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DTM has been the topic of several recent research reports. Wells Fargo & Company boosted their target price on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Morgan Stanley boosted their target price on DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a report on Wednesday, August 6th. Stifel Nicolaus set a $119.00 target price on DT Midstream in a report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Finally, UBS Group lifted their price target on shares of DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average target price of $115.08.

DT Midstream Stock Down 0.1%

DTM stock opened at $108.43 on Thursday. The firm has a market cap of $11.02 billion, a PE ratio of 29.07, a PEG ratio of 2.37 and a beta of 0.78. 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 firm’s 50 day moving average price is $107.64 and its 200-day moving average price is $103.93. DT Midstream, Inc. has a one year low of $83.30 and a one year high of $115.80.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.98 by $0.06. The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the previous year, the company earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a yield of 3.0%. DT Midstream’s payout ratio is presently 87.94%.

Insider Transactions at DT Midstream

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

DT Midstream 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.