California Public Employees Retirement System Increases Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

California Public Employees Retirement System boosted its stake in DT Midstream, Inc. (NYSE:DTM) by 129.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 411,609 shares of the company’s stock after acquiring an additional 232,116 shares during the quarter. California Public Employees Retirement System’s holdings in DT Midstream were worth $40,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in shares of DT Midstream during the third quarter worth $29,000. AdvisorNet Financial Inc lifted its holdings in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after buying an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its position in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after buying an additional 163 shares during the last quarter. UMB Bank n.a. grew its stake in shares of DT Midstream by 53.2% during the fourth quarter. UMB Bank n.a. now owns 481 shares of the company’s stock valued at $48,000 after acquiring an additional 167 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of DT Midstream during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

DTM opened at $99.57 on Thursday. 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 company’s 50-day moving average price is $98.16 and its 200 day moving average price is $96.37. DT Midstream, Inc. has a fifty-two week low of $61.01 and a fifty-two week high of $114.50. The firm has a market cap of $10.12 billion, a price-to-earnings ratio of 24.23 and a beta of 0.80.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $0.82 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.29%. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Insider Buying and Selling

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

Analyst Ratings Changes

DTM has been the subject of a number of analyst reports. The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 target price for the company. Barclays dropped their price target on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, March 21st. Wells Fargo & Company decreased their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, Raymond James upped their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus price target of $105.08.

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.