Maryland State Retirement & Pension System Buys 1,369 Shares of DT Midstream, Inc. (NYSE:DTM)

Maryland State Retirement & Pension System lifted its stake in DT Midstream, Inc. (NYSE:DTM) by 1.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,197 shares of the company’s stock after purchasing an additional 1,369 shares during the quarter. Maryland State Retirement & Pension System’s holdings in DT Midstream were worth $5,592,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. State of Michigan Retirement System boosted its position in shares of DT Midstream by 2.6% in the 1st quarter. State of Michigan Retirement System now owns 23,855 shares of the company’s stock worth $1,458,000 after purchasing an additional 600 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in DT Midstream by 76.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 759 shares of the company’s stock valued at $46,000 after acquiring an additional 330 shares in the last quarter. Global Assets Advisory LLC bought a new position in DT Midstream in the 1st quarter valued at approximately $1,870,000. Bright Rock Capital Management LLC bought a new position in DT Midstream in the 1st quarter valued at approximately $916,000. Finally, Mather Group LLC. bought a new position in DT Midstream in the 1st quarter valued at approximately $29,000. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

DTM stock traded down $0.70 during trading on Friday, reaching $69.49. The company’s stock had a trading volume of 50,213 shares, compared to its average volume of 646,126. DT Midstream, Inc. has a 1 year low of $49.06 and a 1 year high of $71.85. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $6.75 billion, a P/E ratio of 17.12 and a beta of 0.74. The company’s fifty day moving average is $67.10 and its 200-day moving average is $60.52.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The business had revenue of $240.00 million during the quarter, compared to the consensus estimate of $242.62 million. During the same quarter in the prior year, the firm earned $0.84 EPS. On average, research analysts expect that DT Midstream, Inc. will post 3.94 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Monday, June 17th. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Insider Activity at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 400 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $62.80 per share, with a total value of $25,120.00. Following the acquisition, the chief financial officer now owns 44,285 shares in the company, valued at $2,781,098. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on DTM. Mizuho upped their price objective on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. US Capital Advisors cut DT Midstream from an “overweight” rating to a “hold” rating in a report on Monday, April 29th. Wells Fargo & Company raised DT Midstream from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $62.00 to $77.00 in a report on Tuesday, June 4th. Stifel Nicolaus increased their price target on DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays upped their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average price target of $63.71.

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.