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

Retirement Systems of Alabama lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 13.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 275,365 shares of the company’s stock after selling 44,128 shares during the period. Retirement Systems of Alabama’s holdings in DT Midstream were worth $15,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DTM. Wetzel Investment Advisors Inc. bought a new stake in shares of DT Midstream during the fourth quarter valued at approximately $25,000. HHM Wealth Advisors LLC bought a new position in DT Midstream in the fourth quarter worth approximately $25,000. First Horizon Advisors Inc. raised its stake in DT Midstream by 192.3% in the third quarter. First Horizon Advisors Inc. now owns 947 shares of the company’s stock worth $50,000 after buying an additional 623 shares in the last quarter. GAMMA Investing LLC bought a new position in DT Midstream in the fourth quarter worth approximately $52,000. Finally, Blue Trust Inc. raised its stake in DT Midstream by 28.3% in the fourth quarter. Blue Trust Inc. now owns 992 shares of the company’s stock worth $53,000 after buying an additional 219 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DTM. Barclays boosted their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. Finally, Mizuho boosted their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $59.83.

DT Midstream Price Performance

NYSE DTM opened at $62.21 on Wednesday. The firm’s fifty day simple moving average is $60.35 and its two-hundred day simple moving average is $56.70. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.72. DT Midstream, Inc. has a 12-month low of $45.10 and a 12-month high of $64.69. The firm has a market capitalization of $6.04 billion, a P/E ratio of 15.75 and a beta of 0.73.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Friday, February 16th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.32. DT Midstream had a net margin of 41.65% and a return on equity of 9.11%. The business had revenue of $244.00 million for the quarter, compared to analyst estimates of $235.19 million. During the same period in the previous year, the company earned $0.93 earnings per share. Analysts forecast that DT Midstream, Inc. will post 3.95 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, March 18th were issued a dividend of $0.735 per share. The ex-dividend date was Friday, March 15th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.69. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.73%. DT Midstream’s payout ratio is 74.43%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were purchased at an average cost of $56.87 per share, with a total value of $56,870.00. Following the completion of the acquisition, the director now directly owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.21% of the company’s stock.

About DT Midstream

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.