State of New Jersey Common Pension Fund D Has $2.84 Million Holdings in DT Midstream, Inc. $DTM

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in DT Midstream, Inc. by 8.2%, now owning $2.84 million worth of shares after selling 2,644 shares in the first quarter.
• Analysts have raised their price targets for DT Midstream, with Wells Fargo increasing its estimate from $108 to $117 and Morgan Stanley from $113 to $118.
• DT Midstream announced a quarterly dividend of $0.82 per share set to be paid on October 15, representing an annual yield of 3.2%.

State of New Jersey Common Pension Fund D reduced its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 8.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,456 shares of the company's stock after selling 2,644 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in DT Midstream were worth $2,842,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of DT Midstream by 41.5% in the 1st quarter. American Century Companies Inc. now owns 69,091 shares of the company's stock worth $6,666,000 after acquiring an additional 20,254 shares in the last quarter. Ethic Inc. raised its position in DT Midstream by 0.8% in the 1st quarter. Ethic Inc. now owns 42,020 shares of the company's stock worth $4,121,000 after purchasing an additional 329 shares during the last quarter. Element Capital Management LLC bought a new position in DT Midstream in the 1st quarter worth approximately $2,679,000. Kovitz Investment Group Partners LLC raised its position in DT Midstream by 45.5% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 5,118 shares of the company's stock worth $494,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Cookson Peirce & Co. Inc. raised its position in DT Midstream by 36.3% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 13,590 shares of the company's stock worth $1,311,000 after purchasing an additional 3,623 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Stifel Nicolaus boosted their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the stock 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 price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Finally, Barclays upped 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. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, DT Midstream presently has an average rating of "Hold" and an average target price of $110.91.

DT Midstream Stock Performance

Shares of DT Midstream stock opened at $102.39 on Thursday. The firm has a fifty day moving average of $104.03 and a two-hundred day moving average of $100.46. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.85 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $73.52 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88.

DT Midstream (NYSE:DTM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million during the quarter, compared to analysts' expectations of $295.70 million. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. During the same quarter in the prior year, the company earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, equities research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company 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 3.2%. The ex-dividend date is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

Insider Transactions at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the transaction, the vice president owned 5,171 shares in the company, valued at approximately $540,214.37. This represents a 47.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company's stock.

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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