State of New Jersey Common Pension Fund D Lowers Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

State of New Jersey Common Pension Fund D trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,100 shares of the company's stock after selling 5,375 shares during the period. State of New Jersey Common Pension Fund D's holdings in DT Midstream were worth $2,525,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. increased its stake in shares of DT Midstream by 324.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the company's stock valued at $25,000 after purchasing an additional 240 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of DT Midstream during the third quarter valued at approximately $29,000. Family Firm Inc. bought a new position in shares of DT Midstream during the second quarter valued at approximately $26,000. First Command Advisory Services Inc. bought a new position in shares of DT Midstream during the second quarter valued at approximately $31,000. Finally, American National Bank increased its stake in shares of DT Midstream by 100.0% during the second quarter. American National Bank now owns 468 shares of the company's stock valued at $33,000 after purchasing an additional 234 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

DT Midstream Price Performance

NYSE DTM traded up $1.31 on Thursday, reaching $99.51. The company had a trading volume of 709,336 shares, compared to its average volume of 647,426. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $100.97. The stock has a market capitalization of $9.67 billion, a PE ratio of 23.89 and a beta of 0.71. The firm's 50 day moving average price is $84.42 and its 200 day moving average price is $75.30. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

DT Midstream (NYSE:DTM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The business had revenue of $248.00 million during the quarter, compared to analysts' expectations of $242.64 million. During the same period in the previous year, the business earned $0.94 earnings per share. As a group, equities analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.95%. DT Midstream's payout ratio is currently 71.53%.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of recent analyst reports. Barclays increased their price target on shares of DT Midstream from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of DT Midstream from $78.00 to $83.00 and gave the company a "neutral" rating in a report on Friday, October 4th. Stifel Nicolaus cut shares of DT Midstream from a "buy" rating to a "hold" rating and raised their target price for the stock from $78.00 to $89.00 in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of DT Midstream from $87.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Finally, Morgan Stanley raised their target price 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, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, DT Midstream currently has an average rating of "Hold" and an average target price of $80.44.

DT Midstream 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.