Teachers Retirement System of The State of Kentucky Sells 850 Shares of DT Midstream, Inc. (NYSE:DTM)

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 30,760 shares of the company’s stock after selling 850 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in DT Midstream were worth $2,420,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Cetera Advisors LLC bought a new position in shares of DT Midstream in the first quarter worth approximately $216,000. SG Americas Securities LLC bought a new stake in DT Midstream in the 2nd quarter worth $252,000. Wealth Enhancement Advisory Services LLC increased its position in shares of DT Midstream by 20.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 8,572 shares of the company’s stock valued at $609,000 after acquiring an additional 1,464 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in shares of DT Midstream during the second quarter valued at about $234,000. Finally, Blue Trust Inc. boosted its holdings in shares of DT Midstream by 16.0% during the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after purchasing an additional 142 shares during the period. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Performance

Shares of DTM stock opened at $100.62 on Monday. The company’s fifty day moving average price is $95.53 and its 200-day moving average price is $81.28. The stock has a market cap of $9.78 billion, a PE ratio of 24.48 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $109.85.

DT Midstream (NYSE:DTM) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The business had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period last year, the business earned $0.94 earnings per share. On average, equities analysts expect that DT Midstream, Inc. will post 3.84 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a $0.735 dividend. The ex-dividend date is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.92%. DT Midstream’s dividend payout ratio is currently 71.53%.

Analyst Upgrades and Downgrades

DTM has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price target on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and boosted their target price for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. JPMorgan Chase & Co. raised their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. Wells Fargo & Company lifted their price target on shares of DT Midstream from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upped their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, DT Midstream has a consensus rating of “Hold” and an average price target of $84.78.

DT Midstream Company 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.