Norges Bank Invests $143.74 Million in DT Midstream, Inc. $DTM

Norges Bank acquired a new stake in DT Midstream, Inc. (NYSE:DTM) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 1,307,824 shares of the company’s stock, valued at approximately $143,743,000.

Other large investors also recently bought and sold shares of the company. Twin Tree Management LP purchased a new position in DT Midstream during the first quarter worth about $29,000. Parkside Financial Bank & Trust lifted its holdings in shares of DT Midstream by 138.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 312 shares of the company’s stock worth $34,000 after acquiring an additional 181 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in shares of DT Midstream in the 2nd quarter worth approximately $38,000. Geneos Wealth Management Inc. boosted its position in shares of DT Midstream by 39.3% during 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 acquired a new stake in DT Midstream in the 1st quarter valued at approximately $81,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research note on Tuesday. Citigroup raised their target price on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Stifel Nicolaus boosted their price target on shares of DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, October 8th. Finally, Mizuho lifted their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the company a “neutral” rating in a report on Friday, August 29th. Eight research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus target price of $118.08.

DT Midstream Stock Down 1.9%

DTM stock opened at $118.89 on Wednesday. The stock has a market cap of $12.09 billion, a P/E ratio of 30.02, a PEG ratio of 2.35 and a beta of 0.76. 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 $121.82. The company’s 50 day moving average is $112.77 and its two-hundred day moving average is $107.44.

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

DT Midstream Announces Dividend

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

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.