New York State Teachers Retirement System Sells 2,249 Shares of DT Midstream, Inc. (NYSE:DTM)

New York State Teachers Retirement System lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 120,093 shares of the company’s stock after selling 2,249 shares during the period. New York State Teachers Retirement System owned 0.12% of DT Midstream worth $11,587,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Alpine Bank Wealth Management purchased a new position in DT Midstream during the 1st quarter valued at about $26,000. Bessemer Group Inc. increased its stake in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of DT Midstream by 130.2% during the first quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock valued at $47,000 after purchasing an additional 276 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of DT Midstream by 21.1% during the fourth quarter. Larson Financial Group LLC now owns 683 shares of the company’s stock valued at $68,000 after purchasing an additional 119 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of DT Midstream by 50.3% in the 1st quarter. UMB Bank n.a. now owns 723 shares of the company’s stock worth $70,000 after purchasing an additional 242 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DTM. UBS Group raised their price objective on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Williams Trading set a $110.00 price target on DT Midstream in a report on Monday, March 24th. Bank of America initiated coverage on DT Midstream in a research report on Monday, March 24th. They issued a “buy” rating and a $110.00 price target for the company. US Capital Advisors downgraded shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Morgan Stanley set a $115.00 price objective on shares of DT Midstream and gave the company an “underweight” rating in a research note on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, DT Midstream has an average rating of “Hold” and a consensus target price of $109.27.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $105.94 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $10.76 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78. The business has a 50-day simple moving average of $104.15 and a two-hundred day simple moving average of $100.73. DT Midstream, Inc. has a fifty-two week low of $68.88 and a fifty-two week high of $114.50.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). The company had revenue of $288.81 million during the quarter, compared to the consensus estimate of $285.48 million. DT Midstream had a return on equity of 8.46% and a net margin of 34.96%. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Monday, June 16th. DT Midstream’s dividend payout ratio (DPR) is presently 89.37%.

DT Midstream Profile

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.