DT Midstream, Inc. $DTM Stock Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of DT Midstream, Inc. (NYSE:DTM) by 7.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,154 shares of the company’s stock after selling 7,628 shares during the period. Maryland State Retirement & Pension System’s holdings in DT Midstream were worth $11,249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bahl & Gaynor LLC boosted its holdings in shares of DT Midstream by 3.1% in the 3rd quarter. Bahl & Gaynor LLC now owns 637,845 shares of the company’s stock worth $76,203,000 after acquiring an additional 19,374 shares in the last quarter. Keybank National Association OH increased its holdings in DT Midstream by 38.9% during the 3rd quarter. Keybank National Association OH now owns 4,599 shares of the company’s stock valued at $549,000 after purchasing an additional 1,288 shares in the last quarter. New York Life Investment Management LLC increased its holdings in DT Midstream by 19.1% during the 3rd quarter. New York Life Investment Management LLC now owns 15,334 shares of the company’s stock valued at $1,832,000 after purchasing an additional 2,459 shares in the last quarter. AlphaCore Capital LLC raised its position in DT Midstream by 163.2% in the 3rd quarter. AlphaCore Capital LLC now owns 7,521 shares of the company’s stock valued at $900,000 after purchasing an additional 4,664 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in DT Midstream by 12.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 13,527 shares of the company’s stock valued at $1,624,000 after purchasing an additional 1,489 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Bank of America reissued a “buy” rating on shares of DT Midstream in a research note on Monday, October 26th. Mizuho lowered their target price on DT Midstream from $153.00 to $147.00 and set a “neutral” rating for the company in a research note on Friday, July 31st. Wolfe Research raised DT Midstream from a “peer perform” rating to an “outperform” rating and set a $145.00 price target for the company in a report on Wednesday, August 26th. Weiss Ratings downgraded shares of DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Finally, Wells Fargo & Company upped their price target on shares of DT Midstream from $165.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Ten investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $151.00.

DT Midstream Price Performance

DTM opened at $119.02 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $12.14 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. The company’s 50 day simple moving average is $123.83 and its 200-day simple moving average is $134.54. DT Midstream, Inc. has a one year low of $111.55 and a one year high of $152.88.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.03. DT Midstream had a net margin of 35.36% and a return on equity of 9.59%. The firm had revenue of $336.00 million during the quarter, compared to analysts’ expectations of $337.63 million. During the same quarter in the previous year, the company posted $1.13 EPS. Sell-side analysts anticipate that DT Midstream, Inc. will post 4.68 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, December 15th. DT Midstream’s dividend payout ratio (DPR) is 76.52%.

DT Midstream Profile

DT Midstream is an independent natural gas infrastructure company that develops, owns and operates pipelines, gathering systems and storage facilities. Its services connect natural gas producers with utilities, power generators, industrial customers and other markets. The company’s assets include interstate pipelines and underground storage in the Midwest, as well as gathering and transportation systems serving producing regions such as the Appalachian Basin and Louisiana’s Haynesville shale area.