Teacher Retirement System of Texas Trims Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Teacher Retirement System of Texas cut its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 23.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,383 shares of the company's stock after selling 16,352 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.05% of DT Midstream worth $5,208,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. FMR LLC raised its position in shares of DT Midstream by 1,476.9% during the third quarter. FMR LLC now owns 805,950 shares of the company's stock worth $63,396,000 after purchasing an additional 754,839 shares during the period. Brookfield Corp ON lifted its holdings in DT Midstream by 171.3% during the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company's stock worth $81,689,000 after acquiring an additional 655,695 shares during the period. Charles Schwab Investment Management Inc. boosted its position in DT Midstream by 30.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company's stock worth $90,978,000 after purchasing an additional 267,269 shares during the last quarter. Bahl & Gaynor Inc. purchased a new position in DT Midstream in the fourth quarter worth $21,475,000. Finally, State Street Corp grew its stake in DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company's stock valued at $268,757,000 after purchasing an additional 202,447 shares during the period. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group initiated coverage on DT Midstream in a report on Wednesday, March 12th. They set a "buy" rating and a $102.00 price objective for the company. Barclays decreased their price objective on shares of DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Friday. Wells Fargo & Company cut their price target on shares of DT Midstream from $118.00 to $108.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Raymond James raised their price objective on shares of DT Midstream from $110.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Bank of America began coverage on shares of DT Midstream in a research note on Monday. They set a "buy" rating and a $110.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $103.45.

DT Midstream Stock Down 0.2 %

Shares of NYSE:DTM traded down $0.21 during trading on Tuesday, hitting $100.79. The stock had a trading volume of 446,019 shares, compared to its average volume of 788,360. DT Midstream, Inc. has a 12 month low of $59.00 and a 12 month high of $114.50. The company has a market capitalization of $10.24 billion, a PE ratio of 24.55 and a beta of 0.80. 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 firm's fifty day moving average is $100.02 and its 200 day moving average is $95.39.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.82 dividend. This is a boost from DT Midstream's previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's dividend payout ratio is currently 91.11%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company's stock in a transaction dated Monday, March 10th. The shares were purchased at an average price of $86.92 per share, with a total value of $86,920.00. Following the acquisition, the director now directly owns 38,653 shares in the company, valued at $3,359,718.76. The trade was a 2.66 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders purchased 1,170 shares of company stock worth $103,357 over the last three months. 0.04% of the stock is currently owned by corporate insiders.

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.