Bank of New York Mellon Corp Cuts Stock Position in DT Midstream, Inc. $DTM

Bank of New York Mellon Corp lessened its holdings in DT Midstream, Inc. (NYSE:DTM) by 2.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 999,257 shares of the company’s stock after selling 27,729 shares during the quarter. Bank of New York Mellon Corp owned 0.98% of DT Midstream worth $109,828,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Ballentine Partners LLC boosted its holdings in shares of DT Midstream by 4.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,604 shares of the company’s stock worth $286,000 after buying an additional 106 shares during the last quarter. Independent Advisor Alliance boosted its stake in DT Midstream by 2.5% in the first quarter. Independent Advisor Alliance now owns 4,713 shares of the company’s stock valued at $455,000 after acquiring an additional 117 shares during the last quarter. Geneos Wealth Management Inc. grew 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 valued at $42,000 after acquiring an additional 123 shares during the period. Applied Finance Capital Management LLC increased its stake in shares of DT Midstream by 6.5% during the 1st quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company’s stock worth $233,000 after purchasing an additional 147 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings in shares of DT Midstream by 2.6% in the 1st quarter. Atria Wealth Solutions Inc. now owns 7,104 shares of the company’s stock worth $687,000 after purchasing an additional 181 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

Shares of DTM opened at $113.87 on Friday. DT Midstream, Inc. has a 52-week low of $83.30 and a 52-week high of $115.80. The stock’s 50-day simple moving average is $109.19 and its 200 day simple moving average is $105.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92. The stock has a market capitalization of $11.58 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.77.

DT Midstream (NYSE:DTM) last posted its 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 during the quarter, compared to analyst estimates of $309.21 million. During the same quarter in the previous year, the firm earned $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.8 EPS 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 issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, December 15th. DT Midstream’s dividend payout ratio is 82.83%.

Insider Transactions at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were 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 of the company’s stock, valued at $540,214.37. This trade represents a 47.90% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DTM has been the subject of several research reports. Jefferies Financial Group initiated coverage on DT Midstream in a report on Monday. They set a “buy” rating and a $125.00 price objective for the company. Wells Fargo & Company increased their price target on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Citigroup boosted their price objective on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Stifel Nicolaus upped their price objective on shares of DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, Mizuho lifted their target price on shares of DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $116.00.

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.