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

Maryland State Retirement & Pension System lowered its position in DT Midstream, Inc. (NYSE:DTM) by 7.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,154 shares of the company’s stock after selling 7,628 shares during the quarter. Maryland State Retirement & Pension System owned 0.09% of DT Midstream worth $11,249,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of DT Midstream by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 892,353 shares of the company’s stock valued at $120,173,000 after purchasing an additional 3,689 shares during the period. Bahl & Gaynor LLC lifted its position in DT Midstream by 3.1% in the third quarter. Bahl & Gaynor LLC now owns 637,845 shares of the company’s stock worth $76,203,000 after purchasing an additional 19,374 shares during the period. Chickasaw Capital Management LLC boosted its stake in DT Midstream by 38.0% during the third quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock worth $62,430,000 after buying an additional 143,766 shares in the last quarter. Energy Income Partners LLC boosted its stake in DT Midstream by 1.0% during the first quarter. Energy Income Partners LLC now owns 429,858 shares of the company’s stock worth $57,889,000 after buying an additional 4,189 shares in the last quarter. Finally, Recurrent Investment Advisors LLC boosted its stake in DT Midstream by 0.4% during the first quarter. Recurrent Investment Advisors LLC now owns 355,156 shares of the company’s stock worth $47,829,000 after buying an additional 1,370 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Price Performance

DT Midstream stock opened at $119.02 on Thursday. The business has a 50 day simple moving average of $123.83 and a 200 day simple moving average of $134.54. 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 company has a market capitalization of $12.14 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.65 and a beta of 0.73. DT Midstream, Inc. has a one year low of $111.55 and a one year high of $152.88.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Thursday, October 29th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. DT Midstream had a return on equity of 9.59% and a net margin of 35.36%. The firm had revenue of $336.00 million for the quarter, compared to analysts’ expectations of $337.63 million. During the same period in the prior year, the business posted $1.13 earnings per share. On average, sell-side analysts forecast that DT Midstream, Inc. will post 4.68 EPS for the current fiscal year.

DT Midstream Dividend Announcement

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 is Tuesday, December 15th. DT Midstream’s payout ratio is currently 76.52%.

Wall Street Analyst Weigh In

DTM has been the topic of several analyst reports. Morgan Stanley dropped their price objective on shares of DT Midstream from $164.00 to $161.00 and set an “overweight” rating for the company in a research note on Tuesday, November 3rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $150.00 price objective on shares of DT Midstream in a report on Thursday, October 15th. Scotiabank decreased their target price on shares of DT Midstream from $165.00 to $161.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, November 3rd. Weiss Ratings cut shares of DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, August 21st. Finally, The Goldman Sachs Group reissued a “sell” rating and issued a $121.00 target price on shares of DT Midstream in a research note on Wednesday, October 14th. Ten equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, DT Midstream currently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

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.