VIRGINIA RETIREMENT SYSTEMS ET Al Purchases 6,100 Shares of DT Midstream, Inc. $DTM

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its holdings in DT Midstream, Inc. (NYSE:DTM) by 92.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,700 shares of the company’s stock after acquiring an additional 6,100 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in DT Midstream were worth $1,517,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. North Dakota State Investment Board raised its stake in shares of DT Midstream by 3.2% in the third quarter. North Dakota State Investment Board now owns 3,115 shares of the company’s stock worth $372,000 after purchasing an additional 97 shares during the last quarter. Sigma Investment Counselors Inc. lifted its holdings in shares of DT Midstream by 38.8% during the third quarter. Sigma Investment Counselors Inc. now owns 4,586 shares of the company’s stock valued at $548,000 after purchasing an additional 1,283 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of DT Midstream by 4.5% during the third quarter. Oppenheimer & Co. Inc. now owns 4,093 shares of the company’s stock valued at $489,000 after purchasing an additional 178 shares in the last quarter. Center for Financial Planning Inc. boosted its position in shares of DT Midstream by 4.4% during the third quarter. Center for Financial Planning Inc. now owns 2,497 shares of the company’s stock valued at $298,000 after buying an additional 106 shares during the last quarter. Finally, Miller Howard Investments Inc. NY boosted its position in shares of DT Midstream by 6.8% during the third quarter. Miller Howard Investments Inc. NY now owns 224,383 shares of the company’s stock valued at $26,807,000 after buying an additional 14,259 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Trading Down 4.3%

NYSE:DTM opened at $117.31 on Thursday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.66. DT Midstream, Inc. has a 12 month low of $109.12 and a 12 month high of $152.88. The company has a market cap of $11.97 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 1.72 and a beta of 0.73. The company has a 50 day simple moving average of $125.30 and a two-hundred day simple moving average of $134.65.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, October 29th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.03. The business had revenue of $336.00 million during the quarter, compared to analyst estimates of $337.63 million. DT Midstream had a net margin of 35.36% and a return on equity of 9.59%. During the same period in the previous year, the business earned $1.13 EPS. Research analysts forecast that DT Midstream, Inc. will post 4.64 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Tuesday, December 15th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $3.52 annualized dividend and a dividend yield of 3.0%. DT Midstream’s payout ratio is presently 76.52%.

Analyst Ratings Changes

Several research firms recently commented on DTM. Barclays reduced their price objective on DT Midstream from $143.00 to $142.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Wolfe Research raised DT Midstream from a “peer perform” rating to an “outperform” rating and set a $145.00 target price for the company in a research report on Wednesday, August 26th. Bank of America restated a “buy” rating on shares of DT Midstream in a research note on Monday, October 26th. Wells Fargo & Company raised their price target on shares of DT Midstream from $165.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Finally, Weiss Ratings downgraded shares of DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

DT Midstream Company Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.