Louisiana State Employees Retirement System Invests $1.49 Million in DT Midstream, Inc. (NYSE:DTM)

Louisiana State Employees Retirement System acquired a new position in shares of DT Midstream, Inc. (NYSE:DTM) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 27,200 shares of the company’s stock, valued at approximately $1,491,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in DTM. Harbour Investments Inc. raised its holdings in shares of DT Midstream by 19.2% in the 3rd quarter. Harbour Investments Inc. now owns 1,323 shares of the company’s stock worth $70,000 after acquiring an additional 213 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of DT Midstream by 28.3% in the 4th quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after acquiring an additional 219 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in shares of DT Midstream by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company’s stock worth $2,255,000 after acquiring an additional 220 shares during the last quarter. Johnson Investment Counsel Inc. raised its holdings in shares of DT Midstream by 0.8% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 31,870 shares of the company’s stock worth $1,687,000 after acquiring an additional 250 shares during the last quarter. Finally, Advisor Partners II LLC raised its holdings in shares of DT Midstream by 5.7% in the 4th quarter. Advisor Partners II LLC now owns 4,761 shares of the company’s stock worth $263,000 after acquiring an additional 256 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

DTM has been the topic of a number of analyst reports. Barclays upped their target price on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Mizuho reiterated a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Finally, Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $58.50.

Insider Transactions at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the purchase, the director now directly owns 37,289 shares in the company, valued at approximately $2,120,625.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

DT Midstream Trading Up 0.7 %

NYSE:DTM opened at $63.23 on Friday. The firm has a 50-day moving average price of $58.94 and a two-hundred day moving average price of $56.21. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $64.19. The firm has a market cap of $6.14 billion, a price-to-earnings ratio of 16.01 and a beta of 0.73.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The company had revenue of $244.00 million during the quarter, compared to analyst estimates of $235.19 million. During the same quarter last year, the business posted $0.93 EPS. On average, equities analysts expect that DT Midstream, Inc. will post 3.86 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were paid a dividend of $0.735 per share. The ex-dividend date of this dividend was Friday, March 15th. This represents a $2.94 annualized dividend and a dividend yield of 4.65%. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. DT Midstream’s dividend payout ratio (DPR) is presently 74.43%.

About DT Midstream

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.