Hennessy Advisors Inc. Grows Stake in DT Midstream, Inc. $DTM

Hennessy Advisors Inc. raised its stake in DT Midstream, Inc. (NYSE:DTM) by 2.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,440 shares of the company’s stock after purchasing an additional 4,200 shares during the quarter. Hennessy Advisors Inc.’s holdings in DT Midstream were worth $19,063,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in DTM. Vanguard Group Inc. raised its position in DT Midstream by 5.9% in the first quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after purchasing an additional 621,183 shares during the period. Jane Street Group LLC increased its position in shares of DT Midstream by 1,699.5% during the first quarter. Jane Street Group LLC now owns 401,170 shares of the company’s stock worth $38,705,000 after acquiring an additional 378,877 shares during the last quarter. Nuveen LLC purchased a new stake in shares of DT Midstream during the first quarter worth about $33,529,000. HITE Hedge Asset Management LLC purchased a new stake in shares of DT Midstream during the first quarter worth about $31,139,000. Finally, AQR Capital Management LLC increased its position in shares of DT Midstream by 59.9% during the first quarter. AQR Capital Management LLC now owns 804,745 shares of the company’s stock worth $77,247,000 after acquiring an additional 301,355 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Up 1.1%

NYSE:DTM opened at $114.65 on Friday. The company has a market capitalization of $11.65 billion, a price-to-earnings ratio of 30.74, a price-to-earnings-growth ratio of 2.48 and a beta of 0.78. DT Midstream, Inc. has a one year low of $82.39 and a one year high of $115.35. The stock has a 50-day simple moving average of $105.68 and a 200 day simple moving average of $102.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same period last year, the firm earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Sell-side analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, September 15th. DT Midstream’s payout ratio is presently 87.94%.

Insider Buying and Selling

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream 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 completion of the transaction, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DTM. Morgan Stanley lifted their target price on DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of DT Midstream in a research report on Saturday, September 27th. UBS Group lifted their target price on DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus lifted their target price on DT Midstream from $102.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Finally, Mizuho lifted their price target on DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Seven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $112.00.

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.