Wellington Management Group LLP Buys 37,868 Shares of DT Midstream, Inc. $DTM

Wellington Management Group LLP grew its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 115.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,627 shares of the company’s stock after purchasing an additional 37,868 shares during the quarter. Wellington Management Group LLP’s holdings in DT Midstream were worth $10,364,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in DT Midstream by 21.6% during the 1st quarter. Royal Bank of Canada now owns 90,286 shares of the company’s stock valued at $8,711,000 after buying an additional 16,043 shares during the last quarter. NewEdge Advisors LLC grew its holdings in DT Midstream by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 13,631 shares of the company’s stock worth $1,315,000 after acquiring an additional 218 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of DT Midstream by 13.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 276,241 shares of the company’s stock valued at $26,652,000 after acquiring an additional 31,894 shares during the period. Geneos Wealth Management Inc. increased its position in shares of DT Midstream by 39.3% in the first 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. Finally, Cresset Asset Management LLC raised its stake in shares of DT Midstream by 2.6% during the second quarter. Cresset Asset Management LLC now owns 6,300 shares of the company’s stock valued at $698,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM stock opened at $129.45 on Tuesday. The firm has a 50 day moving average price of $137.61 and a 200-day moving average price of $139.17. DT Midstream, Inc. has a 52-week low of $102.43 and a 52-week high of $152.88. The firm has a market capitalization of $13.21 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 3.64 and a beta of 0.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.37 and a current ratio of 1.37.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.09 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.08). DT Midstream had a return on equity of 9.58% and a net margin of 35.72%.The company had revenue of $332.57 million during the quarter, compared to analysts’ expectations of $325.84 million. During the same quarter in the previous year, the company earned $1.04 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. Equities research analysts forecast that DT Midstream, Inc. will post 4.55 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 21st. DT Midstream’s payout ratio is 77.02%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DTM. Mizuho dropped their target price on shares of DT Midstream from $153.00 to $147.00 and set a “neutral” rating for the company in a report on Friday, July 31st. Weiss Ratings lowered DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Scotiabank started coverage on DT Midstream in a report on Tuesday, May 26th. They issued an “outperform” rating and a $176.00 price objective for the company. UBS Group lifted their price objective on DT Midstream from $152.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Morgan Stanley boosted their target price on DT Midstream from $165.00 to $170.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $153.43.

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.