Maryland State Retirement & Pension System Has $8.73 Million Holdings in DT Midstream, Inc. (NYSE:DTM)

Key Points

• The Maryland State Retirement & Pension System increased its investment in DT Midstream, Inc. by 5.6%, acquiring an additional 4,774 shares, bringing its total to 90,469 shares valued at approximately $8.7 million.
• Brokerages have raised their price targets for DT Midstream, with Wells Fargo setting a new target of $117.00 and Stifel Nicolaus raising it to $108.00, while the average consensus rating remains a "Hold".
• DT Midstream has announced a quarterly dividend of $0.82 per share, translating to an annualized dividend yield of 3.1% with a payout ratio of 87.94%.

Maryland State Retirement & Pension System boosted its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 5.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,469 shares of the company's stock after purchasing an additional 4,774 shares during the quarter. Maryland State Retirement & Pension System owned 0.09% of DT Midstream worth $8,728,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ballentine Partners LLC raised its stake in DT Midstream by 4.8% in the 1st quarter. Ballentine Partners LLC now owns 2,498 shares of the company's stock worth $241,000 after purchasing an additional 114 shares in the last quarter. Bessemer Group Inc. raised its stake in DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock worth $30,000 after purchasing an additional 117 shares in the last quarter. NewEdge Advisors LLC raised its stake in DT Midstream by 1.1% in the 4th quarter. NewEdge Advisors LLC now owns 13,413 shares of the company's stock worth $1,334,000 after purchasing an additional 142 shares in the last quarter. Applied Finance Capital Management LLC raised its stake in DT Midstream by 6.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company's stock worth $233,000 after purchasing an additional 147 shares in the last quarter. Finally, Secure Asset Management LLC raised its stake in DT Midstream by 6.8% in the 1st quarter. Secure Asset Management LLC now owns 2,470 shares of the company's stock worth $238,000 after purchasing an additional 157 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Trading Up 0.3%

DTM traded up $0.35 during trading on Friday, reaching $104.56. 572,178 shares of the company's stock were exchanged, compared to its average volume of 783,993. DT Midstream, Inc. has a one year low of $71.97 and a one year high of $114.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $10.62 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.90 and a beta of 0.77. The firm has a fifty day moving average price of $104.59 and a two-hundred day moving average price of $100.54.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The firm had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. During the same period in the previous year, the firm posted $0.98 EPS. As a group, equities research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's payout ratio is presently 87.94%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. Stifel Nicolaus boosted their target price on shares of DT Midstream from $102.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, August 1st. US Capital Advisors cut shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Morgan Stanley boosted their target price on shares of DT Midstream from $113.00 to $118.00 and gave the company an "underweight" rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of DT Midstream from $108.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $110.91.

DT Midstream 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.