New York State Common Retirement Fund Sells 12,798 Shares of DT Midstream, Inc. (NYSE:DTM)

New York State Common Retirement Fund reduced its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 123,225 shares of the company's stock after selling 12,798 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of DT Midstream worth $6,753,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. bought a new stake in shares of DT Midstream during the fourth quarter valued at approximately $25,000. First Horizon Advisors Inc. increased its holdings 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 acquiring an additional 623 shares in the last quarter. Blue Trust Inc. increased its holdings 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 acquiring an additional 219 shares in the last quarter. Whittier Trust Co. increased its holdings in shares of DT Midstream by 175.0% during the fourth quarter. Whittier Trust Co. now owns 1,672 shares of the company's stock valued at $92,000 after acquiring an additional 1,064 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of DT Midstream by 32.8% during the third quarter. Larson Financial Group LLC now owns 1,720 shares of the company's stock valued at $91,000 after acquiring an additional 425 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was bought at an average price of $56.87 per share, with a total value of $56,870.00. Following the acquisition, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wolfe Research upgraded DT Midstream from an "underperform" rating to a "peer perform" rating in a report on Tuesday, February 20th. US Capital Advisors cut DT Midstream from an "overweight" rating to a "hold" rating in a research report on Monday, April 29th. Barclays lifted their target price on DT Midstream from $59.00 to $66.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. Mizuho lifted their target price on DT Midstream from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, April 29th. Finally, Stifel Nicolaus lifted their target price on DT Midstream from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of "Hold" and an average target price of $61.50.

DT Midstream Stock Performance

DTM stock traded up $0.32 during midday trading on Friday, hitting $62.93. The company's stock had a trading volume of 464,906 shares, compared to its average volume of 782,514. The stock's 50-day moving average price is $60.68 and its 200 day moving average price is $56.82. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. DT Midstream, Inc. has a 1 year low of $45.10 and a 1 year high of $64.69. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 15.35 and a beta of 0.72.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. The business had revenue of $240.00 million for the quarter, compared to analysts' expectations of $242.62 million. During the same quarter in the previous year, the firm earned $0.84 earnings per share. On average, equities analysts forecast that DT Midstream, Inc. will post 3.93 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.735 per share. The ex-dividend date is Friday, June 14th. This represents a $2.94 annualized dividend and a dividend yield of 4.67%. DT Midstream's payout ratio is 71.71%.

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.