New York State Common Retirement Fund Trims Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

New York State Common Retirement Fund cut its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 4.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 53,650 shares of the company’s stock after selling 2,500 shares during the quarter. New York State Common Retirement Fund’s holdings in DT Midstream were worth $5,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of DTM. Louisiana State Employees Retirement System boosted its stake in DT Midstream by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after purchasing an additional 100 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of DT Midstream by 17.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after buying an additional 105 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of DT Midstream by 1.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock worth $1,235,000 after buying an additional 116 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of DT Midstream by 38.3% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company’s stock worth $51,000 after buying an additional 141 shares during the last quarter. Finally, Caprock Group LLC increased its position in DT Midstream by 3.7% in the 3rd quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock valued at $322,000 after acquiring an additional 143 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of NYSE DTM opened at $92.92 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a one year low of $56.60 and a one year high of $114.50. The firm has a market capitalization of $9.03 billion, a P/E ratio of 22.61 and a beta of 0.79. The company’s fifty day moving average is $102.73 and its two-hundred day moving average is $92.95.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a yield of 3.53%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is currently 71.53%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DTM shares. JPMorgan Chase & Co. increased their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Barclays assumed coverage on shares of DT Midstream in a research report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price objective on the stock. Raymond James upped their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company lifted their target price on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, DT Midstream presently has an average rating of “Hold” and an average target price of $101.11.

DT Midstream Company 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.