Summit Investment Advisors Inc. Cuts Stock Position in DT Midstream, Inc. $DTM

Summit Investment Advisors Inc. cut its position in shares of DT Midstream, Inc. (NYSE:DTM) by 7.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,041 shares of the company’s stock after selling 2,819 shares during the quarter. Summit Investment Advisors Inc.’s holdings in DT Midstream were worth $3,284,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in DT Midstream by 5.9% during the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after acquiring an additional 621,183 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of DT Midstream by 21.8% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company’s stock valued at $152,712,000 after purchasing an additional 282,870 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of DT Midstream by 11.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company’s stock valued at $119,326,000 after purchasing an additional 131,138 shares during the last quarter. Northern Trust Corp raised its position in DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company’s stock worth $111,615,000 after purchasing an additional 94,470 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in DT Midstream by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company’s stock worth $110,790,000 after purchasing an additional 5,218 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

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 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. UBS Group boosted their price objective on DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Barclays increased their price objective on DT Midstream from $103.00 to $114.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $114.00 to $118.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Finally, Jefferies Financial Group initiated coverage on shares of DT Midstream in a research report on Monday, November 3rd. They set a “buy” rating and a $125.00 price target for the company. 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 company. According to MarketBeat.com, DT Midstream presently has an average rating of “Hold” and an average price target of $116.00.

DT Midstream Price Performance

Shares of DTM stock opened at $113.87 on Friday. The business’s fifty day moving average is $109.19 and its 200 day moving average is $105.44. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 2.43 and a beta of 0.77. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $115.80.

DT Midstream (NYSE:DTM) last announced 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. The firm had revenue of $309.16 million for the quarter, compared to analysts’ expectations of $309.21 million. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. During the same quarter in the previous year, the business 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 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm 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 dividend of $0.82 per share. 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 2.9%. DT Midstream’s dividend payout ratio (DPR) is currently 82.83%.

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.