Maryland State Retirement & Pension System Sells 1,852 Shares of DT Midstream, Inc. (NYSE:DTM)

Maryland State Retirement & Pension System decreased its position in DT Midstream, Inc. (NYSE:DTM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 85,695 shares of the company’s stock after selling 1,852 shares during the quarter. Maryland State Retirement & Pension System’s holdings in DT Midstream were worth $8,521,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DTM. Xponance Inc. grew its position in shares of DT Midstream by 13.6% in the 4th quarter. Xponance Inc. now owns 11,892 shares of the company’s stock worth $1,182,000 after buying an additional 1,425 shares during the period. Intech Investment Management LLC bought a new stake in DT Midstream during the fourth quarter worth about $999,000. Thrivent Financial for Lutherans grew its holdings in DT Midstream by 55.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company’s stock worth $3,536,000 after purchasing an additional 12,755 shares during the period. Axxcess Wealth Management LLC bought a new position in shares of DT Midstream during the fourth quarter valued at approximately $764,000. Finally, Parallel Advisors LLC lifted its holdings in shares of DT Midstream by 5.9% during the fourth quarter. Parallel Advisors LLC now owns 5,985 shares of the company’s stock valued at $595,000 after purchasing an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 0.8 %

Shares of DT Midstream stock opened at $95.98 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a twelve month low of $57.50 and a twelve month high of $114.50. The company has a market cap of $9.73 billion, a price-to-earnings ratio of 23.35 and a beta of 0.80. The company’s 50 day moving average is $100.51 and its 200 day moving average is $94.78.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 3.42%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date is Monday, March 17th. DT Midstream’s dividend payout ratio is presently 91.11%.

Insider Transactions at DT Midstream

In other DT Midstream news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The shares were bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now owns 38,653 shares in the company, valued at $3,359,718.76. This represents a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 1,170 shares of company stock worth $103,357 in the last ninety days. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

DTM has been the topic of several recent research reports. Wells Fargo & Company cut their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Barclays started coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. UBS Group began coverage on shares of DT Midstream in a research note on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Finally, Raymond James upped their target price on shares of DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $102.00.

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.