Arizona State Retirement System Grows Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Arizona State Retirement System increased its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,176 shares of the company’s stock after purchasing an additional 214 shares during the period. Arizona State Retirement System’s holdings in DT Midstream were worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System grew its position in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after purchasing an additional 100 shares during the period. Jones Financial Companies Lllp grew its holdings in DT Midstream by 15.0% during the fourth quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock worth $76,000 after acquiring an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in DT Midstream by 17.8% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after acquiring an additional 105 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in DT Midstream by 1.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after acquiring an additional 116 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its position in DT Midstream by 38.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company’s stock worth $51,000 after purchasing an additional 141 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Trading Down 1.7 %

Shares of DT Midstream stock opened at $88.16 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a twelve month low of $57.16 and a twelve month high of $114.50. The firm has a market capitalization of $8.94 billion, a PE ratio of 21.45 and a beta of 0.80. The firm’s 50-day moving average price is $101.68 and its 200 day moving average price is $93.97.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio (DPR) is 91.11%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DTM. Raymond James lifted their target price on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Stifel Nicolaus decreased their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JPMorgan Chase & Co. increased their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Barclays began coverage on DT Midstream in a research note on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target for the company. Finally, Wells Fargo & Company lowered their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $102.00.

DT Midstream 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.