Retirement Systems of Alabama Sells 17,095 Shares of DT Midstream, Inc. (NYSE:DTM)

Retirement Systems of Alabama cut its position in DT Midstream, Inc. (NYSE:DTM) by 6.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 258,270 shares of the company’s stock after selling 17,095 shares during the period. Retirement Systems of Alabama owned about 0.27% of DT Midstream worth $15,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTM. Mariner LLC increased its stake in shares of DT Midstream by 10.6% in the third quarter. Mariner LLC now owns 20,790 shares of the company’s stock worth $1,100,000 after purchasing an additional 1,985 shares in the last quarter. Natixis Advisors L.P. grew its stake in DT Midstream by 5.9% during the third quarter. Natixis Advisors L.P. now owns 13,295 shares of the company’s stock valued at $704,000 after acquiring an additional 743 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in DT Midstream by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 42,616 shares of the company’s stock valued at $2,255,000 after acquiring an additional 220 shares in the last quarter. Quadrature Capital Ltd purchased a new position in DT Midstream during the third quarter valued at $408,000. Finally, Glenmede Trust Co. NA grew its stake in DT Midstream by 13.6% during the third quarter. Glenmede Trust Co. NA now owns 79,374 shares of the company’s stock valued at $4,200,000 after acquiring an additional 9,476 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Trading Down 0.7 %

DTM traded down $0.50 on Friday, reaching $69.69. 841,563 shares of the company traded hands, compared to its average volume of 652,308. DT Midstream, Inc. has a one year low of $49.06 and a one year high of $71.85. The firm has a fifty day simple moving average of $67.10 and a two-hundred day simple moving average of $60.52. The company has a market cap of $6.77 billion, a P/E ratio of 16.95 and a beta of 0.74. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The company had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. During the same quarter last year, the business posted $0.84 EPS. As a group, equities research analysts expect that DT Midstream, Inc. will post 3.94 earnings per share for the current year.

DT Midstream Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $0.735 per share. The ex-dividend date is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a yield of 4.22%. DT Midstream’s payout ratio is 71.71%.

Insider Buying and Selling at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell bought 400 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average price of $62.80 per share, with a total value of $25,120.00. Following the transaction, the chief financial officer now owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

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