Louisiana State Employees Retirement System Takes $1.49 Million Position in DT Midstream, Inc. (NYSE:DTM)

Louisiana State Employees Retirement System purchased a new stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 27,200 shares of the company's stock, valued at approximately $1,491,000.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. purchased a new position in shares of DT Midstream during the first quarter valued at $30,000. Chilton Capital Management LLC purchased a new position in shares of DT Midstream during the first quarter valued at $39,000. First Horizon Advisors Inc. increased its stake in shares of DT Midstream by 192.3% during the third quarter. First Horizon Advisors Inc. now owns 947 shares of the company's stock valued at $50,000 after buying an additional 623 shares during the period. Blue Trust Inc. increased its stake in shares of DT Midstream by 28.3% during the fourth quarter. Blue Trust Inc. now owns 992 shares of the company's stock valued at $53,000 after buying an additional 219 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new position in shares of DT Midstream during the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Up 0.7 %

DTM traded up $0.44 on Friday, hitting $63.23. The company had a trading volume of 1,003,264 shares, compared to its average volume of 658,612. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The stock has a market capitalization of $6.14 billion, a price-to-earnings ratio of 16.01 and a beta of 0.73. The stock has a fifty day moving average price of $58.94 and a 200-day moving average price of $56.24. DT Midstream, Inc. has a 12-month low of $45.10 and a 12-month high of $64.19.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.32. The business had revenue of $244.00 million during the quarter, compared to the consensus estimate of $235.19 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same quarter last year, the company earned $0.93 earnings per share. Analysts predict that DT Midstream, Inc. will post 3.86 EPS for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, March 18th were issued a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend was Friday, March 15th. This is an increase from DT Midstream's previous quarterly dividend of $0.69. DT Midstream's dividend payout ratio (DPR) is currently 74.43%.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction on Monday, February 26th. The stock was acquired at an average price of $56.87 per share, with a total value of $56,870.00. Following the completion of the acquisition, the director now owns 37,289 shares in the company, valued at $2,120,625.43. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on DTM shares. Mizuho restated a "neutral" rating and set a $57.00 price target (down previously from $58.00) on shares of DT Midstream in a research note on Friday, January 5th. Wolfe Research upgraded DT Midstream from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, February 20th. Finally, Barclays lifted their target price on DT Midstream from $59.00 to $66.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $58.50.

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.