State of New Jersey Common Pension Fund D Has $2.53 Million Position in DT Midstream, Inc. (NYSE:DTM)

State of New Jersey Common Pension Fund D trimmed its position in DT Midstream, Inc. (NYSE:DTM) by 14.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,100 shares of the company’s stock after selling 5,375 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in DT Midstream were worth $2,525,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock valued at $312,070,000 after acquiring an additional 490,613 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of DT Midstream by 1.6% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,359,445 shares of the company’s stock worth $144,398,000 after purchasing an additional 37,463 shares during the period. Bank of New York Mellon Corp raised its position in shares of DT Midstream by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock valued at $82,870,000 after buying an additional 38,305 shares in the last quarter. Tortoise Capital Advisors L.L.C. boosted its stake in shares of DT Midstream by 6.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after buying an additional 60,370 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in DT Midstream during the third quarter worth approximately $39,166,000. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 1.6 %

Shares of DTM stock opened at $98.20 on Thursday. DT Midstream, Inc. has a twelve month low of $51.17 and a twelve month high of $100.97. The stock’s fifty day simple moving average is $84.42 and its 200 day simple moving average is $75.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.54 billion, a P/E ratio of 23.89 and a beta of 0.71.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter last year, the firm posted $0.94 earnings per share. As a group, sell-side analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is currently 71.53%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DTM. Morgan Stanley lifted their price objective on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their target price on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Citigroup lifted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, DT Midstream currently has a consensus rating of “Hold” and a consensus target price of $80.44.

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.