California Public Employees Retirement System Increases Holdings in DT Midstream, Inc. (NYSE:DTM)

California Public Employees Retirement System increased its position in DT Midstream, Inc. (NYSE:DTM) by 129.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 411,609 shares of the company’s stock after acquiring an additional 232,116 shares during the period. California Public Employees Retirement System owned approximately 0.42% of DT Midstream worth $40,926,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of DT Midstream by 225.4% in the third quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock valued at $11,449,000 after purchasing an additional 100,825 shares in the last quarter. Friedenthal Financial acquired a new position in shares of DT Midstream during the 4th quarter worth approximately $764,000. Truist Financial Corp purchased a new stake in DT Midstream in the 4th quarter valued at approximately $771,000. State Street Corp grew its holdings in DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after buying an additional 202,447 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in DT Midstream during the 3rd quarter valued at $877,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

DT Midstream Stock Up 1.5 %

Shares of NYSE DTM opened at $99.57 on Thursday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $10.12 billion, a PE ratio of 24.23 and a beta of 0.80. The firm has a fifty day moving average of $98.16 and a 200-day moving average of $96.37. DT Midstream, Inc. has a 52-week low of $61.01 and a 52-week high of $114.50.

DT Midstream Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 annualized dividend and a yield of 3.29%. DT Midstream’s dividend payout ratio is currently 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 dated Monday, March 10th. The stock was bought at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the transaction, the director now directly owns 38,653 shares of the company’s stock, valued at approximately $3,359,718.76. The trade was a 2.66 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have bought a total of 1,170 shares of company stock worth $103,357 in the last three months. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DTM. Stifel Nicolaus cut their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Morgan Stanley boosted their target price on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, March 25th. Barclays decreased their price target on shares of DT Midstream from $112.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, March 21st. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $105.08.

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.