Retirement Systems of Alabama Raises Stock Position in DT Midstream, Inc. $DTM

Retirement Systems of Alabama raised its holdings in DT Midstream, Inc. (NYSE:DTM) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 244,567 shares of the company’s stock after purchasing an additional 842 shares during the quarter. Retirement Systems of Alabama owned 0.24% of DT Midstream worth $26,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of DT Midstream in the first quarter worth about $25,000. Twin Tree Management LP purchased a new position in DT Midstream during the first quarter valued at approximately $29,000. Trust Co. of Toledo NA OH acquired a new position in DT Midstream in the second quarter valued at approximately $38,000. Geneos Wealth Management Inc. boosted its position in DT Midstream by 39.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock worth $42,000 after purchasing an additional 123 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $43,000 after purchasing an additional 135 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DTM. Wells Fargo & Company increased their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Mizuho upped their price objective on shares of DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Stifel Nicolaus set a $119.00 target price on DT Midstream in a research report on Tuesday, October 14th. Morgan Stanley lifted their price target on DT Midstream from $113.00 to $118.00 and gave the company an “underweight” rating in a research note on Wednesday, August 6th. Finally, Barclays increased their price target on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, DT Midstream currently has a consensus rating of “Hold” and an average price target of $115.08.

DT Midstream Stock Performance

NYSE DTM opened at $109.76 on Friday. The company has a market cap of $11.15 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The stock’s 50 day simple moving average is $108.14 and its 200-day simple moving average is $104.70. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $115.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Thursday, October 30th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.03 by $0.10. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The firm had revenue of $309.16 million during the quarter, compared to analysts’ expectations of $309.21 million. During the same period in the previous year, the business earned $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, December 15th. DT Midstream’s dividend payout ratio is 87.94%.

Insider Buying and Selling at DT Midstream

In other news, VP Melissa Cox sold 4,755 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.34% 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.