Teacher Retirement System of Texas Sells 2,574 Shares of DT Midstream, Inc. (NYSE:DTM)

Teacher Retirement System of Texas reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 17.0% in the 4th quarter, HoldingsChannel reports. The firm owned 12,534 shares of the company’s stock after selling 2,574 shares during the quarter. Teacher Retirement System of Texas’ holdings in DT Midstream were worth $687,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new position in shares of DT Midstream during the fourth quarter valued at about $25,000. HHM Wealth Advisors LLC acquired a new position in shares of DT Midstream during the fourth quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in shares of DT Midstream during the fourth quarter valued at about $52,000. Blue Trust Inc. grew its holdings in shares of DT Midstream by 28.3% during the fourth quarter. Blue Trust Inc. now owns 992 shares of the company’s stock valued at $53,000 after buying an additional 219 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new position in DT Midstream during the fourth quarter worth about $89,000. 81.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on DTM shares. Stifel Nicolaus boosted their price target on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Mizuho boosted their target price on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, April 29th. US Capital Advisors cut shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Barclays boosted their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Wolfe Research raised shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.50.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $66.36 on Friday. DT Midstream, Inc. has a 52-week low of $45.20 and a 52-week high of $67.38. The stock has a market capitalization of $6.44 billion, a price-to-earnings ratio of 16.19 and a beta of 0.72. The company has a fifty day moving average of $63.03 and a 200-day moving average of $57.94. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The company had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $242.62 million. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. During the same quarter in the prior year, the company earned $0.84 EPS. Equities research analysts expect that DT Midstream, Inc. will post 3.92 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently declared 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 is Monday, June 17th. This represents a $2.94 annualized dividend and a yield of 4.43%. DT Midstream’s payout ratio is currently 71.71%.

Insider Buying and Selling at DT Midstream

In related news, CFO Jeffrey A. Jewell acquired 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the acquisition, the chief financial officer now owns 44,285 shares of the company’s stock, valued at $2,781,098. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the acquisition, the director now owns 37,289 shares of the company’s stock, valued at $2,120,625.43. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Jeffrey A. Jewell purchased 400 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $62.80 per share, with a total value of $25,120.00. Following the completion of the purchase, the chief financial officer now owns 44,285 shares in the company, valued at $2,781,098. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

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.