Arizona State Retirement System Has $1.93 Million Stock Position in DT Midstream, Inc. (NYSE:DTM)

Arizona State Retirement System grew its position in DT Midstream, Inc. (NYSE:DTM) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,150 shares of the company’s stock after purchasing an additional 500 shares during the period. Arizona State Retirement System’s holdings in DT Midstream were worth $1,928,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bright Rock Capital Management LLC acquired a new position in DT Midstream in the 1st quarter worth about $916,000. Prevail Innovative Wealth Advisors LLC increased its position in DT Midstream by 37.9% in the 1st quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after purchasing an additional 10,418 shares during the last quarter. Dimensional Fund Advisors LP increased its position in DT Midstream by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock worth $186,407,000 after purchasing an additional 266,433 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in DT Midstream by 137.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after purchasing an additional 17,437 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in DT Midstream in the 1st quarter worth about $1,085,000. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $74.79 on Wednesday. The business has a 50 day moving average price of $73.96 and a 200 day moving average price of $67.39. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 18.24 and a beta of 0.74. DT Midstream, Inc. has a twelve month low of $50.88 and a twelve month high of $78.83.

DT Midstream (NYSE:DTM) last posted 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. The firm had revenue of $244.00 million during the quarter, compared to analysts’ expectations 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 in the prior year, the firm posted $0.93 EPS. Research analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be issued a $0.735 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.94 annualized dividend and a yield of 3.93%. DT Midstream’s dividend payout ratio (DPR) is 71.71%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wells Fargo & Company upped their target price 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 upped their price target on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. upped their price target on DT Midstream from $75.00 to $78.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup upped their price target on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus upped their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Hold” and a consensus target price of $70.75.

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.