Mitsubishi UFJ Trust & Banking Corp Raises Stake in DT Midstream, Inc. $DTM

Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 11.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 484,469 shares of the company’s stock after purchasing an additional 49,730 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in DT Midstream were worth $53,248,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in shares of DT Midstream by 3.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 222,541 shares of the company’s stock worth $21,471,000 after purchasing an additional 6,715 shares during the last quarter. Cerity Partners LLC boosted its position in DT Midstream by 2.8% during the first quarter. Cerity Partners LLC now owns 17,033 shares of the company’s stock worth $1,644,000 after purchasing an additional 471 shares during the period. Xponance Inc. grew its stake in DT Midstream by 5.3% in the 1st quarter. Xponance Inc. now owns 12,528 shares of the company’s stock valued at $1,209,000 after buying an additional 636 shares in the last quarter. Ballentine Partners LLC raised its holdings in DT Midstream by 4.8% during the 1st quarter. Ballentine Partners LLC now owns 2,498 shares of the company’s stock valued at $241,000 after acquiring an additional 114 shares during the period. Finally, Arizona State Retirement System lifted its position in shares of DT Midstream by 2.6% during the first quarter. Arizona State Retirement System now owns 28,908 shares of the company’s stock worth $2,789,000 after acquiring an additional 732 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DTM shares. Wells Fargo & Company lifted their price target on DT Midstream from $108.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Barclays lifted their target price on DT Midstream from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective 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. Jefferies Financial Group began coverage on shares of DT Midstream in a research note on Monday, November 3rd. They set a “buy” rating and a $125.00 price objective for the company. Finally, Citigroup increased their target price on shares of DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $117.46.

DT Midstream Stock Performance

NYSE DTM opened at $115.30 on Thursday. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $115.80. The company has a fifty day moving average of $109.84 and a 200-day moving average of $105.79. The company has a market capitalization of $11.72 billion, a P/E ratio of 29.12, a P/E/G ratio of 2.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.The business had revenue of $309.16 million for the quarter, compared to the consensus estimate of $309.21 million. During the same quarter last year, the business posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. As a group, equities research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

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

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.