DT Midstream, Inc. (NYSE:DTM) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,383 shares of the company's stock after selling 16,352 shares during the period. Teacher Retirement System of Texas owned 0.05% of DT Midstream worth $5,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DTM. Brooklyn FI LLC purchased a new position in shares of DT Midstream in the 4th quarter worth approximately $463,000. Xponance Inc. boosted its stake in DT Midstream by 13.6% during the fourth quarter. Xponance Inc. now owns 11,892 shares of the company's stock worth $1,182,000 after buying an additional 1,425 shares during the period. Intech Investment Management LLC bought a new position in DT Midstream during the fourth quarter valued at $999,000. Thrivent Financial for Lutherans raised its stake in shares of DT Midstream by 55.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock valued at $3,536,000 after acquiring an additional 12,755 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in shares of DT Midstream in the 4th quarter worth about $764,000. Hedge funds and other institutional investors own 81.53% of the company's stock.

Analyst Upgrades and Downgrades

DTM has been the topic of several analyst reports. Stifel Nicolaus reduced their price objective on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Barclays reduced their price target on DT Midstream from $112.00 to $107.00 and set an "equal weight" rating on the stock in a report on Friday, March 21st. The Goldman Sachs Group boosted their price objective on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Finally, UBS Group boosted their target price on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $105.08.

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DT Midstream Stock Down 1.1 %

DT Midstream stock traded down $1.11 during trading hours on Thursday, reaching $97.15. The stock had a trading volume of 833,169 shares, compared to its average volume of 793,598. The company has a market cap of $9.87 billion, a price-to-earnings ratio of 23.64 and a beta of 0.80. The business's 50 day moving average price is $99.65 and its 200-day moving average price is $95.59. DT Midstream, Inc. has a 52 week low of $59.03 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

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 issued a $0.82 dividend. 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 3.38%. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's payout ratio is currently 91.11%.

Insider Activity

In related news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the purchase, the director now directly owns 38,653 shares of the company's stock, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders acquired 1,170 shares of company stock worth $103,357. Insiders own 0.21% of the company's stock.

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.