DT Midstream, Inc. (NYSE:DTM) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its holdings in DT Midstream, Inc. (NYSE:DTM) by 21.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 37,475 shares of the company’s stock after selling 10,131 shares during the period. State of New Jersey Common Pension Fund D’s holdings in DT Midstream were worth $2,662,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC acquired a new stake in shares of DT Midstream during the 4th quarter worth approximately $206,000. Beacon Pointe Advisors LLC acquired a new stake in shares of DT Midstream during the 4th quarter worth approximately $209,000. Brown Advisory Inc. acquired a new stake in shares of DT Midstream during the 4th quarter worth approximately $1,002,000. Norges Bank acquired a new stake in shares of DT Midstream during the 4th quarter worth approximately $61,638,000. Finally, Corient Private Wealth LLC increased its holdings in shares of DT Midstream by 14.8% during the 4th quarter. Corient Private Wealth LLC now owns 20,160 shares of the company’s stock worth $1,105,000 after buying an additional 2,592 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on DTM shares. Barclays increased their price objective on shares of DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their price objective on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Citigroup increased their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus increased their price objective on shares of DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.75.

DT Midstream Stock Performance

Shares of DTM stock opened at $77.34 on Thursday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a 52 week low of $50.88 and a 52 week high of $78.83. The stock has a market capitalization of $7.51 billion, a PE ratio of 18.85 and a beta of 0.74. The firm has a 50 day moving average of $74.61 and a two-hundred day moving average of $68.07.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The company had revenue of $244.00 million during the quarter, compared to analysts’ expectations of $236.83 million. During the same quarter last year, the company posted $0.93 EPS. On average, research analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.80%. DT Midstream’s dividend payout ratio (DPR) is currently 71.71%.

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.