Retirement Systems of Alabama Sells 1,888 Shares of DT Midstream, Inc. (NYSE:DTM)

Retirement Systems of Alabama trimmed its stake in DT Midstream, Inc. (NYSE:DTM) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,468 shares of the company’s stock after selling 1,888 shares during the period. Retirement Systems of Alabama’s holdings in DT Midstream were worth $20,016,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Cetera Advisors LLC bought a new position in DT Midstream during the first quarter valued at about $216,000. SG Americas Securities LLC acquired a new position in shares of DT Midstream in the second quarter valued at $252,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of DT Midstream by 20.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,572 shares of the company’s stock valued at $609,000 after purchasing an additional 1,464 shares in the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in DT Midstream in the second quarter worth $234,000. Finally, Blue Trust Inc. boosted its stake in DT Midstream by 16.0% during the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after buying an additional 142 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Down 1.0 %

Shares of DTM opened at $100.62 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. The company has a market cap of $9.78 billion, a price-to-earnings ratio of 24.48 and a beta of 0.77. The stock has a fifty day moving average price of $95.53 and a two-hundred day moving average price of $81.17. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $109.85.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the prior year, the firm earned $0.94 earnings per share. Analysts predict that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.735 per share. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.92%. DT Midstream’s payout ratio is 71.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DTM shares. Barclays increased their price objective on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. The Goldman Sachs Group increased their price target on shares of DT Midstream from $66.00 to $74.00 and gave the stock a “sell” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and upped their price target for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.78.

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.