First American Bank Purchases New Shares in DT Midstream, Inc. $DTM

First American Bank acquired a new stake in DT Midstream, Inc. (NYSE:DTM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,146 shares of the company’s stock, valued at approximately $1,373,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. lifted its holdings in DT Midstream by 1.7% during the first quarter. Raymond James Financial Inc. now owns 87,661 shares of the company’s stock worth $8,457,000 after acquiring an additional 1,482 shares during the period. Jump Financial LLC bought a new stake in shares of DT Midstream during the 1st quarter worth $661,000. Magnetar Financial LLC purchased a new position in shares of DT Midstream in the 1st quarter worth about $255,000. Vident Advisory LLC boosted its holdings in shares of DT Midstream by 20.7% in the 1st quarter. Vident Advisory LLC now owns 26,641 shares of the company’s stock worth $2,570,000 after buying an additional 4,570 shares during the last quarter. Finally, Twin Tree Management LP bought a new position in DT Midstream during the first quarter valued at about $29,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 0.4%

DT Midstream stock opened at $120.92 on Tuesday. The firm has a 50 day simple moving average of $115.75 and a 200 day simple moving average of $109.40. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $122.70. The firm has a market capitalization of $12.29 billion, a price-to-earnings ratio of 30.54, a P/E/G ratio of 2.32 and a beta of 0.76.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. The firm had revenue of $314.00 million during the quarter, compared to analyst estimates of $309.21 million. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.During the same period last year, the company earned $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. On average, analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders 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 2.7%. The ex-dividend date of this dividend is Monday, December 15th. DT Midstream’s payout ratio is presently 82.83%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DTM. 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 note on Tuesday, December 2nd. Bank of America raised their price target on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Wells Fargo & Company upped their price objective on DT Midstream from $121.00 to $133.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Morgan Stanley increased their price objective on DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Finally, Stifel Nicolaus boosted their target price on DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Eight investment 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.25.

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.