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

New York State Common Retirement Fund lifted its position in DT Midstream, Inc. (NYSE:DTM - Free Report) by 25.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,050 shares of the company's stock after purchasing an additional 13,400 shares during the quarter. New York State Common Retirement Fund owned 0.07% of DT Midstream worth $6,469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DTM. OneDigital Investment Advisors LLC purchased a new stake in DT Midstream during the 1st quarter valued at about $274,000. Bessemer Group Inc. raised its position in DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after purchasing an additional 135 shares during the last quarter. True Link Financial Advisors LLC bought a new position in DT Midstream during the 1st quarter valued at approximately $238,000. Thrivent Financial for Lutherans raised its position in DT Midstream by 55.9% during the 4th quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock valued at $3,536,000 after purchasing an additional 12,755 shares during the last quarter. Finally, Catalyst Capital Advisors LLC raised its position in DT Midstream by 10.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 144,025 shares of the company's stock valued at $13,896,000 after purchasing an additional 13,243 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 1.9%

Shares of NYSE:DTM opened at $104.36 on Monday. DT Midstream, Inc. has a 52-week low of $69.82 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $10.60 billion, a P/E ratio of 28.44, a P/E/G ratio of 1.89 and a beta of 0.78. The stock has a 50 day moving average price of $105.01 and a 200-day moving average price of $101.02.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($0.01). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The company had revenue of $288.81 million for the quarter, compared to the consensus estimate of $285.48 million. During the same period last year, the business earned $0.99 EPS. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 16th were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Monday, June 16th. DT Midstream's dividend payout ratio (DPR) is presently 89.37%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Morgan Stanley set a $115.00 price target on DT Midstream and gave the company an "underweight" rating in a research report on Tuesday, June 3rd. Bank of America assumed coverage on DT Midstream in a research report on Monday, March 24th. They set a "buy" rating and a $110.00 price target for the company. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. UBS Group upped their price target on DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research report on Thursday, March 27th. Finally, Williams Trading set a $110.00 price target on DT Midstream in a research report on Monday, March 24th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $109.27.

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.

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