California Public Employees Retirement System Has $9.29 Million Stake in DT Midstream, Inc. (NYSE:DTM)

California Public Employees Retirement System trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,579 shares of the company’s stock after selling 6,488 shares during the period. California Public Employees Retirement System owned about 0.17% of DT Midstream worth $9,293,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in DTM. Independent Advisor Alliance acquired a new stake in shares of DT Midstream during the third quarter worth $270,000. Lindbrook Capital LLC increased its stake in DT Midstream by 91.2% in the 3rd quarter. Lindbrook Capital LLC now owns 11,948 shares of the company’s stock valued at $632,000 after buying an additional 5,699 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in DT Midstream by 28.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,012 shares of the company’s stock valued at $1,059,000 after buying an additional 4,482 shares during the last quarter. Mackenzie Financial Corp increased its stake in DT Midstream by 432.7% in the 3rd quarter. Mackenzie Financial Corp now owns 37,452 shares of the company’s stock valued at $1,928,000 after buying an additional 30,421 shares during the last quarter. Finally, Advisor Partners II LLC increased its stake in DT Midstream by 18.0% in the 3rd quarter. Advisor Partners II LLC now owns 5,033 shares of the company’s stock valued at $266,000 after buying an additional 769 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DT Midstream news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were purchased at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the transaction, the director now directly owns 37,289 shares in the company, valued at approximately $2,120,625.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM stock opened at $62.61 on Friday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 15.27 and a beta of 0.71. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.63 and a current ratio of 0.63. The company has a 50-day simple moving average of $60.45 and a 200 day simple moving average of $56.73. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $64.69.

DT Midstream (NYSE:DTM) last announced its earnings results on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.45%. The business had revenue of $240.00 million during the quarter, compared to the consensus estimate of $242.62 million. During the same quarter in the previous year, the firm posted $0.84 EPS. On average, sell-side analysts predict that DT Midstream, Inc. will post 3.95 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.70%. DT Midstream’s payout ratio is presently 71.71%.

Analyst Ratings Changes

DTM has been the topic of several recent research reports. Barclays lifted their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company 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 report on Tuesday, February 20th. US Capital Advisors downgraded shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday. Mizuho lifted their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $61.50.

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.