Arizona State Retirement System Sells 499 Shares of DT Midstream, Inc. (NYSE:DTM)

Arizona State Retirement System cut its position in DT Midstream, Inc. (NYSE:DTM) by 1.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,088 shares of the company’s stock after selling 499 shares during the quarter. Arizona State Retirement System’s holdings in DT Midstream were worth $1,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mariner LLC raised its holdings in DT Midstream by 10.6% in the 3rd quarter. Mariner LLC now owns 20,790 shares of the company’s stock valued at $1,100,000 after acquiring an additional 1,985 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in DT Midstream by 2.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after acquiring an additional 39,059 shares in the last quarter. Comerica Bank raised its holdings in DT Midstream by 11,073.2% in the 3rd quarter. Comerica Bank now owns 86,257 shares of the company’s stock valued at $4,565,000 after acquiring an additional 85,485 shares in the last quarter. Whittier Trust Co. raised its holdings in DT Midstream by 175.0% in the 4th quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock valued at $92,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Barclays PLC raised its holdings in DT Midstream by 100.2% in the 3rd quarter. Barclays PLC now owns 117,302 shares of the company’s stock valued at $6,207,000 after acquiring an additional 58,722 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of DT Midstream stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the transaction, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DTM shares. Mizuho reaffirmed a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of DT Midstream in a report on Friday, January 5th. Barclays boosted their price target on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $58.57.

DT Midstream Price Performance

Shares of DTM opened at $62.64 on Friday. DT Midstream, Inc. has a 12-month low of $45.10 and a 12-month high of $64.19. The business has a 50-day simple moving average of $57.89 and a two-hundred day simple moving average of $55.86. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.72. The stock has a market cap of $6.08 billion, a PE ratio of 15.86 and a beta of 0.73.

DT Midstream (NYSE:DTM) last issued its earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.32. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. The business had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $235.19 million. During the same quarter in the prior year, the firm earned $0.93 EPS. Analysts anticipate that DT Midstream, Inc. will post 3.85 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, March 18th will be issued a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Friday, March 15th. This is a boost from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s dividend payout ratio is presently 74.43%.

DT Midstream Company 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.