Hennessy Advisors Inc. Has $17.33 Million Position in DT Midstream, Inc. $DTM

by · The Cerbat Gem

Hennessy Advisors Inc. decreased its position in shares of DT Midstream, Inc. (NYSE:DTM – Free Report) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 153,240 shares of the company’s stock after selling 20,200 shares during the quarter. Hennessy Advisors Inc. owned approximately 0.15% of DT Midstream worth $17,325,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 59 North Capital Management LP acquired a new position in shares of DT Midstream during the second quarter valued at $226,757,000. Norges Bank bought a new stake in DT Midstream during the 2nd quarter worth about $143,743,000. Jane Street Group LLC lifted its position in DT Midstream by 1,699.5% during the 1st quarter. Jane Street Group LLC now owns 401,170 shares of the company’s stock valued at $38,705,000 after purchasing an additional 378,877 shares during the period. Merewether Investment Management LP boosted its stake in shares of DT Midstream by 810.1% in the 2nd quarter. Merewether Investment Management LP now owns 342,200 shares of the company’s stock valued at $37,611,000 after purchasing an additional 304,600 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of DT Midstream by 59.9% during the 1st quarter. AQR Capital Management LLC now owns 804,745 shares of the company’s stock worth $77,247,000 after buying an additional 301,355 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of DTM stock opened at $119.64 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $122.70. The firm has a fifty day moving average of $116.22 and a 200-day moving average of $109.57. The firm has a market capitalization of $12.16 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 2.32 and a beta of 0.76.

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

DT Midstream Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of DT Midstream in a report on Monday, November 3rd. They issued a “buy” rating and a $125.00 price objective on the stock. Bank of America upped their target price on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Morgan Stanley increased their price target on DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a research note on Wednesday, November 12th. Barclays raised their price target on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Finally, Citigroup upped their price objective on DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Eight analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, DT Midstream currently has an average rating of “Moderate Buy” and an average price target of $123.25.

Check Out Our Latest Report on DTM

DT Midstream Profile

(Free Report)

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.

Featured Articles