California State Teachers Retirement System Decreases Stake in DT Midstream, Inc. $DTM

California State Teachers Retirement System reduced its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,432 shares of the company's stock after selling 5,119 shares during the period. California State Teachers Retirement System owned approximately 0.11% of DT Midstream worth $16,938,492 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in shares of DT Midstream in the fourth quarter valued at approximately $30,000. Western Wealth Management LLC bought a new position in shares of DT Midstream in the 1st quarter valued at $32,000. Commonwealth Retirement Investments LLC acquired a new position in DT Midstream in the fourth quarter valued at $36,000. Continuum Advisory LLC bought a new position in DT Midstream in the 2nd quarter valued at $36,000. Finally, Cassaday & Co Wealth Management LLC purchased a new stake in shares of DT Midstream in the first quarter worth $41,000. Institutional investors own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

DTM has been the subject of several research reports. Scotiabank lowered their price objective on shares of DT Midstream from $176.00 to $168.00 and set a "sector outperform" rating on the stock in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $146.00 to $154.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 8th. Morgan Stanley raised shares of DT Midstream from an "equal weight" rating to an "overweight" rating and set a $170.00 price target for the company in a report on Wednesday, September 9th. Wolfe Research raised DT Midstream from a "peer perform" rating to an "outperform" rating and set a $145.00 price objective on the stock in a research report on Wednesday, August 26th. Finally, Weiss Ratings cut DT Midstream from a "buy (b+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Ten investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $152.86.

DT Midstream Stock Down 1.5%

Shares of DT Midstream stock traded down $1.96 during trading hours on Tuesday, reaching $125.25. The company's stock had a trading volume of 398,445 shares, compared to its average volume of 814,781. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.37 and a current ratio of 1.37. The stock's fifty day simple moving average is $136.08 and its two-hundred day simple moving average is $138.96. DT Midstream, Inc. has a one year low of $104.25 and a one year high of $152.88. The company has a market capitalization of $12.78 billion, a P/E ratio of 27.44, a P/E/G ratio of 3.59 and a beta of 0.70.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.08). The firm had revenue of $332.57 million during the quarter, compared to analysts' expectations of $325.84 million. DT Midstream had a net margin of 35.72% and a return on equity of 9.58%. During the same quarter in the previous year, the firm posted $1.04 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. On average, research analysts forecast that DT Midstream, Inc. will post 4.59 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Monday, September 21st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Monday, September 21st. DT Midstream's payout ratio is 77.02%.

DT Midstream Company Profile

DT Midstream, Inc NYSE: DTM is an independent energy infrastructure company that develops, owns and operates natural gas transportation, storage and gathering assets. Its business is primarily supported by long-term, fee-based agreements that connect natural gas producers, utilities, power generators and other customers to major markets.

The company's operations include interstate and intrastate pipeline systems, natural gas gathering networks and storage facilities. Its portfolio includes assets such as the Blue Union and Guardian pipeline systems, Midwestern Gas Transmission, and other infrastructure serving production and consumption areas in the Midwestern and Southern United States, including the Gulf Coast and Haynesville region.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.