Retirement Systems of Alabama Sells 44,128 Shares of DT Midstream, Inc. (NYSE:DTM)

Retirement Systems of Alabama cut its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 275,365 shares of the company's stock after selling 44,128 shares during the quarter. Retirement Systems of Alabama owned approximately 0.28% of DT Midstream worth $15,090,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of DT Midstream in the fourth quarter valued at $25,000. HHM Wealth Advisors LLC acquired a new stake in shares of DT Midstream in the fourth quarter valued at $25,000. First Horizon Advisors Inc. increased its stake in shares of DT Midstream by 192.3% in 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 in the last quarter. GAMMA Investing LLC acquired a new stake in shares of DT Midstream in the fourth quarter valued at $52,000. Finally, Blue Trust Inc. increased its stake in shares of DT Midstream by 28.3% in 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 in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business's stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the acquisition, the director now directly owns 37,289 shares of the company's stock, valued at approximately $2,120,625.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by company insiders.

DT Midstream Trading Down 0.9 %

Shares of DT Midstream stock traded down $0.56 during trading on Wednesday, hitting $61.64. 827,247 shares of the company were exchanged, compared to its average volume of 693,748. The firm has a market capitalization of $5.99 billion, a P/E ratio of 15.60 and a beta of 0.73. DT Midstream, Inc. has a 1-year low of $45.10 and a 1-year high of $64.69. The firm's fifty day moving average price is $60.35 and its 200 day moving average price is $56.70. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.63 and a quick ratio of 0.63.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The company had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.11% and a net margin of 41.65%. During the same period in the previous year, the company earned $0.84 EPS. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.95 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be issued a dividend of $0.735 per share. This represents a $2.94 annualized dividend and a dividend yield of 4.77%. The ex-dividend date is Monday, June 17th. DT Midstream's dividend payout ratio (DPR) is presently 74.43%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on DTM. Wolfe Research upgraded DT Midstream from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, February 20th. Barclays lifted their price objective on DT Midstream from $59.00 to $66.00 and gave the stock an "overweight" rating in a research report on Friday, April 5th. US Capital Advisors lowered DT Midstream from an "overweight" rating to a "hold" rating in a research report on Monday. Mizuho lifted their price objective on DT Midstream from $57.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, DT Midstream has an average rating of "Hold" and a consensus target price of $61.50.

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.