On June 3, 2023, Tortoise Index Solutions LLC announced their increase in position with DT Midstream, Inc. (NYSE: DTM), much to the interest of investors and financial analysts alike. In Q4 of the previous year, the firm purchased an additional 25,883 shares leading to a total ownership of 116,728 shares of the company’s stock. At that time, this amount was valued at approximately $474,000 which is considered to be remarkable by many due to it only constituting only about 0.12% of DT Midstream’s overall equity.
DT Midstream recently declared a dividend for shareholders, demonstrating a strong indication of growth and profitability in their operations. The payout is set at $0.69 per share and will be given out on Saturday, July 15th; those on record on Monday June 19th will receive these payments. The ex-dividend date has been set as Thursday, June 15th. This annualized dividend accounts for $2.76 and boasts an impressive yield of close to six percent.
Many equities research analysts have investigated and rated DTM stock favorably repeatedly. Citigroup upgraded the shares from “sell” to “neutral” rating on Thursday February 23rd with a target price set at $54 per share for this company in question says sources within its research group.The Raymond James coverage team started research work on DTM shares back in April while highlighting its potential outperformance abilities when recommending them as “outperform.” Barclays also issued reports during the period; stating that they had cut their price target from $64 down to $57 a few days before Mizuho’s actions reducing theirs from $59 down eventually affected analyst recommendations for re-assessment . Seems like most hold sentiments are now neutral except Bloomberg consensus which says that players should go long.
Interest is growing around DT Midstream because it is demonstrating growth prospects by achieving margin gains through effective cost control, scale and scope efficiencies, and general optimization strategies. Its formidable dividend percentage also shows investors that the company is making solid money which goes to explain why Tortoise Index Solutions increased its investment significantly at that time. These factors coupled with rising praises from analysts who rate it as a stable hold or even buy make DT Midstream stock a worthy contender for those looking to invest in this sector. In summary, investment gurus predict that the demand for this company’s stock will increase in the short term, calling for investors to closely monitor DT Midstream’s activities and evaluate whether it is worth investing in their future endeavors.
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Institutional Investors Show Interest in DT Midstream, Inc. as Company Announces Dividend Payout Despite Missed EPS Expectations
DT Midstream, Inc. (NYSE:DTM) has attracted the attention of several institutional investors over the past few months. Sigma Planning Corp recently increased its position in DT Midstream by 5.0%, purchasing an additional 682 shares in the last quarter and taking its total stake to 14,320 shares worth $743,000. Meanwhile, Amalgamated Bank lifted its position in DT Midstream by 13.1%, adding an extra 9,093 shares to their holdings and valuing their stake at $4,335,000.
TFG Advisers LLC also added to its position in the company by 7.3% during Q4 of 2023 taking the total number of shares owned to a figure close to 5k valued at $272k while Fort Washington Investment Advisors Inc. OH upped its shareholding by nearly 5% buying another thousand remaining with a maintenance of over twenty-one-thousand shares now worth $1.2m.
In addition to these institutional investments is news that Chairman Robert C Skaggs Jr also acquired more than $93k worth of DT Midstream stock, buying two-thousand shares on May 11th for a figure of $46.70 each bringing his total holding in DT Midstream to nearly nineteen-and-a-half thousand shares valued at around $912k while CEO David Slater purchased fifteen-hundred shares.
All those share transactions lead us into recent events surrounding the oil and gas pipeline operating firm who declared quarterly dividend payout recently which will be dished out on Saturday three weeks from now amid reports that they missed Wall Street expectations for earnings-per-share according to data from their Q1 results; showing an EPS figure of USD 0.84 versus consensus estimate prediction figures set at USD 0.92 per share mark calculated across thirteen Wall Street analysts commentators – indicating revenue predicted for Q1 was looked upon optimistically at USDn 238.44mn, but in fact the actual figure reached came in at USDn 220.00mn.
The stock held up well though despite the reporting of these missed expectations, and traded vigorously from $45.10 to $61.12 over the past year with a current cap value estimate of $4.62bn and releasing a 72% dividend ratio offer worth some $2.76-a-share, representing a yield of around 6%. To conclude – DT Midstream will likely remain lucrative to hold particularly after those high activity share transactions as it looks set to grow steadily forward post-post-pandemic times being prime for their niche positioning right now.
