Bayforest Capital Ltd Boosts Holdings in DT Midstream, Inc. $DTM

Bayforest Capital Ltd grew its holdings in DT Midstream, Inc. (NYSE:DTM) by 2,560.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 4,150 shares of the company’s stock after purchasing an additional 3,994 shares during the quarter. Bayforest Capital Ltd’s holdings in DT Midstream were worth $456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ballentine Partners LLC boosted its stake in shares of DT Midstream by 4.2% in the second quarter. Ballentine Partners LLC now owns 2,604 shares of the company’s stock valued at $286,000 after purchasing an additional 106 shares during the period. Independent Advisor Alliance boosted its stake in shares of 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 purchasing an additional 117 shares during the period. Geneos Wealth Management Inc. boosted its stake 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 purchasing an additional 123 shares during the period. Bessemer Group Inc. boosted its stake in shares of DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock valued at $43,000 after purchasing an additional 135 shares during the period. Finally, Applied Finance Capital Management LLC boosted its stake in shares of DT Midstream by 6.5% in the first quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company’s stock valued at $233,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target 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. Citigroup lifted their price target on shares of DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Morgan Stanley lifted their price target on shares of DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, October 8th. Seven investment 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. According to MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and an average price target of $115.08.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of DT Midstream 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 transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at $540,214.37. The trade was a 47.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

DT Midstream Stock Up 0.1%

Shares of NYSE:DTM opened at $110.06 on Wednesday. The company has a market capitalization of $11.18 billion, a PE ratio of 29.51, a P/E/G ratio of 2.40 and a beta of 0.78. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a twelve month low of $83.30 and a twelve month high of $115.80. The firm has a 50 day simple moving average of $106.97 and a 200-day simple moving average of $103.39.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the previous year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. On average, equities analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, September 15th. DT Midstream’s payout ratio is currently 87.94%.

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.