Maryland State Retirement & Pension System Has $5.59 Million Position in DT Midstream, Inc. (NYSE:DTM)

Maryland State Retirement & Pension System raised its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 1.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,197 shares of the company’s stock after buying an additional 1,369 shares during the quarter. Maryland State Retirement & Pension System owned about 0.09% of DT Midstream worth $5,592,000 as of its most recent SEC filing.

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

DT Midstream Trading Down 1.0 %

NYSE:DTM traded down $0.70 during mid-day trading on Friday, hitting $69.49. The company had a trading volume of 50,213 shares, compared to its average volume of 646,126. DT Midstream, Inc. has a fifty-two week low of $49.06 and a fifty-two week high of $71.85. The business’s fifty day moving average is $67.10 and its two-hundred day moving average is $60.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $6.75 billion, a P/E ratio of 17.12 and a beta of 0.74.

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

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date of this dividend is Monday, June 17th. DT Midstream’s dividend payout ratio is currently 71.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DTM. Barclays upped their price target on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Wells Fargo & Company raised DT Midstream from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $62.00 to $77.00 in a research note on Tuesday, June 4th. Mizuho upped their price target on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. Stifel Nicolaus upped their price target on DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $63.71.

Insider Transactions at DT Midstream

In other DT Midstream news, CFO Jeffrey A. Jewell purchased 400 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $62.80 per share, with a total value of $25,120.00. Following the completion of the transaction, the chief financial officer now directly owns 44,285 shares in the company, valued at approximately $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

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.