Louisiana State Employees Retirement System Sells 600 Shares of DT Midstream, Inc. (NYSE:DTM)

Louisiana State Employees Retirement System lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 2.2% during the 3rd quarter, Holdings Channel reports. The fund owned 26,900 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in DT Midstream were worth $2,116,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DTM. UMB Bank n.a. boosted its position in DT Midstream by 324.3% during the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after acquiring an additional 240 shares in the last quarter. Family Firm Inc. bought a new stake in DT Midstream during the 2nd quarter valued at $26,000. V Square Quantitative Management LLC bought a new stake in DT Midstream during the 3rd quarter valued at $29,000. First Command Advisory Services Inc. bought a new stake in DT Midstream during the 2nd quarter valued at $31,000. Finally, American National Bank boosted its position in DT Midstream by 100.0% during the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after acquiring an additional 234 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DTM. Wells Fargo & Company raised their price objective on DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Barclays raised their price objective on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Morgan Stanley raised their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average target price of $77.38.

DT Midstream Stock Performance

Shares of DTM stock opened at $89.26 on Wednesday. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 21.77 and a beta of 0.74. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.84 and a quick ratio of 0.84. The business has a fifty day moving average of $80.52 and a 200 day moving average of $72.95. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $89.32.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. The business had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same quarter last year, the business posted $0.93 EPS. As a group, research analysts expect that DT Midstream, Inc. will post 3.99 earnings per share for the current year.

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.