Franklin Resources Inc. Lowers Holdings in DT Midstream, Inc. $DTM

Franklin Resources Inc. cut its holdings in DT Midstream, Inc. (NYSE:DTM) by 11.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 769,721 shares of the company’s stock after selling 98,210 shares during the period. Franklin Resources Inc. owned 0.76% of DT Midstream worth $92,120,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. 59 North Capital Management LP raised its holdings in shares of DT Midstream by 49.0% during the 3rd quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company’s stock worth $347,556,000 after acquiring an additional 1,010,965 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of DT Midstream by 3.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,668,447 shares of the company’s stock worth $301,695,000 after acquiring an additional 99,602 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of DT Midstream by 4.6% during the 4th quarter. Geode Capital Management LLC now owns 2,407,612 shares of the company’s stock worth $288,191,000 after acquiring an additional 106,533 shares in the last quarter. Merewether Investment Management LP raised its holdings in shares of DT Midstream by 192.4% during the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock worth $113,128,000 after acquiring an additional 658,400 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of DT Midstream during the 4th quarter worth approximately $115,715,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on DTM shares. Raymond James Financial reaffirmed an “outperform” rating and set a $158.00 price objective on shares of DT Midstream in a report on Thursday, April 30th. Weiss Ratings raised DT Midstream from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, June 4th. Wall Street Zen raised DT Midstream from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Barclays upped their price objective on DT Midstream from $141.00 to $143.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Mizuho upped their price objective on DT Midstream from $129.00 to $153.00 and gave the stock a “neutral” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, DT Midstream currently has a consensus rating of “Moderate Buy” and an average price target of $154.46.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $141.27 on Thursday. The stock’s fifty day moving average is $140.33 and its two-hundred day moving average is $131.54. The company has a market capitalization of $14.41 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 3.06 and a beta of 0.72. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.68. DT Midstream, Inc. has a 52 week low of $98.06 and a 52 week high of $152.88.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, April 30th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.11 by $0.16. The company had revenue of $336.00 million for the quarter, compared to the consensus estimate of $313.65 million. DT Midstream had a return on equity of 9.53% and a net margin of 36.28%.During the same quarter in the prior year, the company posted $1.06 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. As a group, analysts expect that DT Midstream, Inc. will post 4.75 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Monday, June 15th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, June 15th. DT Midstream’s dividend payout ratio is 77.88%.

DT Midstream Company Profile

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.