Teacher Retirement System of Texas Sells 16,352 Shares of DT Midstream, Inc. (NYSE:DTM)

Teacher Retirement System of Texas lessened its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 23.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 52,383 shares of the company’s stock after selling 16,352 shares during the quarter. Teacher Retirement System of Texas’ holdings in DT Midstream were worth $5,208,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in DT Midstream by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after buying an additional 100 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after acquiring an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after purchasing an additional 105 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of DT Midstream by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after purchasing an additional 116 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in DT Midstream by 21.1% during the fourth quarter. Larson Financial Group LLC now owns 683 shares of the company’s stock worth $68,000 after purchasing an additional 119 shares during the period. Institutional investors own 81.53% of the company’s stock.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased a total of 1,170 shares of company stock valued at $103,357 over the last 90 days. Insiders own 0.04% of the company’s stock.

DT Midstream Trading Down 2.4 %

DTM opened at $96.88 on Monday. The firm has a market capitalization of $9.84 billion, a PE ratio of 23.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. DT Midstream, Inc. has a fifty-two week low of $59.00 and a fifty-two week high of $114.50. The company’s 50-day moving average is $100.10 and its 200 day moving average is $95.22.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is currently 91.11%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DTM. JPMorgan Chase & Co. boosted their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Stifel Nicolaus cut their target price on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. UBS Group initiated coverage on shares of DT Midstream in a report on Wednesday, March 12th. They set a “buy” rating and a $102.00 price objective on the stock. Finally, Raymond James raised their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $101.50.

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.