Thrivent Financial for Lutherans Has $6.15 Million Position in DT Midstream, Inc. $DTM

Thrivent Financial for Lutherans grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 53.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 55,979 shares of the company’s stock after acquiring an additional 19,512 shares during the period. Thrivent Financial for Lutherans’ holdings in DT Midstream were worth $6,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Twin Tree Management LP purchased a new position in DT Midstream in the first quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of DT Midstream during the 2nd quarter worth about $33,000. WFA of San Diego LLC acquired a new stake in shares of DT Midstream during the 2nd quarter valued at about $33,000. Parkside Financial Bank & Trust grew its stake 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 valued at $34,000 after buying an additional 181 shares in the last quarter. Finally, Trust Co. of Toledo NA OH acquired a new position in DT Midstream in the second quarter worth approximately $38,000. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DTM shares. Wells Fargo & Company lifted their target price on shares of DT Midstream from $121.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America raised their price target on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Morgan Stanley upped their price objective on shares of DT Midstream from $126.00 to $137.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Stifel Nicolaus increased their target price on shares of DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, Citigroup boosted their price target on DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $123.25.

DT Midstream Stock Performance

NYSE:DTM opened at $118.11 on Friday. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $122.70. The firm’s fifty day simple moving average is $114.50 and its 200 day simple moving average is $108.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $12.01 billion, a PE ratio of 29.83, a PEG ratio of 2.26 and a beta of 0.76.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, October 30th. The company reported $1.13 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $309.21 million. During the same quarter in the previous year, the business earned $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

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

About DT Midstream

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.