Maryland State Retirement & Pension System Buys 1,075 Shares of DT Midstream, Inc. (NYSE:DTM)

Maryland State Retirement & Pension System increased its stake in DT Midstream, Inc. (NYSE:DTM) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,828 shares of the company’s stock after purchasing an additional 1,075 shares during the period. Maryland State Retirement & Pension System owned 0.09% of DT Midstream worth $4,868,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Deutsche Bank AG grew its holdings in shares of DT Midstream by 1,176.7% during the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock worth $45,889,000 after purchasing an additional 799,224 shares in the last quarter. Eagle Global Advisors LLC purchased a new position in shares of DT Midstream in the 3rd quarter worth about $8,590,000. Envestnet Asset Management Inc. grew its stake in DT Midstream by 186.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 157,152 shares of the company’s stock valued at $8,316,000 after buying an additional 102,255 shares in the last quarter. Covalis Capital LLP purchased a new stake in DT Midstream in the third quarter valued at approximately $5,077,000. Finally, Comerica Bank boosted its stake in shares of DT Midstream by 11,073.2% in the 3rd quarter. Comerica Bank now owns 86,257 shares of the company’s stock valued at $4,565,000 after purchasing an additional 85,485 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the transaction, the director now directly owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by corporate insiders.

DT Midstream Price Performance

DTM stock traded up $0.68 on Monday, hitting $63.61. 545,943 shares of the company’s stock traded hands, compared to its average volume of 688,863. The stock has a fifty day moving average of $60.68 and a 200-day moving average of $56.84. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 15.51 and a beta of 0.72. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a 1-year low of $45.20 and a 1-year high of $64.69.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, topping 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 business had revenue of $240.00 million for the quarter, compared to the consensus estimate of $242.62 million. During the same period in the prior year, the business posted $0.84 earnings per share. On average, analysts forecast that DT Midstream, Inc. will post 3.93 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.62%. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Analysts Set New Price Targets

DTM has been the subject of a number of analyst reports. US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Wolfe Research upgraded DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Stifel Nicolaus lifted their target price on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Barclays raised their target price on DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Mizuho upped their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.50.

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.