Baird Financial Group Inc. Decreases Stake in DT Midstream, Inc. $DTM

Baird Financial Group Inc. reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 13.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,561 shares of the company’s stock after selling 13,231 shares during the period. Baird Financial Group Inc.’s holdings in DT Midstream were worth $9,074,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of DT Midstream by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 11,351,778 shares of the company’s stock valued at $1,247,674,000 after acquiring an additional 176,813 shares during the period. Invesco Ltd. grew its stake in DT Midstream by 15.4% during the 2nd quarter. Invesco Ltd. now owns 1,664,052 shares of the company’s stock valued at $182,896,000 after purchasing an additional 222,586 shares during the last quarter. Tortoise Capital Advisors L.L.C. increased its holdings in shares of DT Midstream by 21.8% in the first 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 during the period. Norges Bank purchased a new position in shares of DT Midstream in the second quarter worth about $143,743,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of DT Midstream by 11.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company’s stock worth $119,326,000 after purchasing an additional 131,138 shares during the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Down 1.0%

DT Midstream stock opened at $120.35 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $12.24 billion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 2.34 and a beta of 0.76. The business has a 50 day simple moving average of $113.47 and a 200-day simple moving average of $107.94. DT Midstream, Inc. has a 12 month low of $83.30 and a 12 month high of $122.70.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The firm had revenue of $314.00 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 last year, the company earned $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Monday, December 15th. DT Midstream’s dividend payout ratio is 82.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on DTM shares. Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, October 8th. UBS Group increased their price objective on shares of DT Midstream from $115.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, October 3rd. Stifel Nicolaus raised their target price on shares of DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a research report on Tuesday, December 2nd. Finally, Citigroup increased 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 two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $118.08.

DT Midstream Company 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.