Maryland State Retirement & Pension System Sells 1,852 Shares of DT Midstream, Inc. (NYSE:DTM)

Maryland State Retirement & Pension System trimmed its stake in DT Midstream, Inc. (NYSE:DTM) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,695 shares of the company’s stock after selling 1,852 shares during the period. Maryland State Retirement & Pension System owned approximately 0.09% of DT Midstream worth $8,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Atria Investments Inc bought a new position in shares of DT Midstream in the 3rd quarter worth $666,000. Victory Capital Management Inc. raised its position in DT Midstream by 151.8% during the third quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock valued at $8,918,000 after purchasing an additional 68,350 shares in the last quarter. Metis Global Partners LLC raised its position in DT Midstream by 33.5% during the third quarter. Metis Global Partners LLC now owns 5,395 shares of the company’s stock valued at $424,000 after purchasing an additional 1,354 shares in the last quarter. Natixis Advisors LLC lifted its stake in DT Midstream by 10.6% during the third quarter. Natixis Advisors LLC now owns 24,568 shares of the company’s stock worth $1,933,000 after purchasing an additional 2,356 shares during the last quarter. Finally, Pathstone Holdings LLC boosted its holdings in shares of DT Midstream by 3.3% in the 3rd quarter. Pathstone Holdings LLC now owns 20,679 shares of the company’s stock worth $1,633,000 after purchasing an additional 668 shares in the last quarter. 81.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was acquired at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the acquisition, the director now owns 38,653 shares of the company’s stock, valued at $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 available at this link. Insiders acquired 1,170 shares of company stock valued at $103,357 over the last quarter. 0.04% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DTM has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their target price on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a research report on Thursday, December 19th. UBS Group initiated coverage on shares of DT Midstream in a report on Wednesday, March 12th. They issued a “buy” rating and a $102.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Finally, Citigroup raised DT Midstream from a “neutral” rating to a “buy” rating and raised their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.00.

DT Midstream Stock Down 0.8 %

Shares of NYSE:DTM opened at $95.98 on Wednesday. DT Midstream, Inc. has a 1 year low of $57.50 and a 1 year 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. The stock’s 50-day moving average is $100.51 and its 200 day moving average is $94.78. The company has a market cap of $9.73 billion, a PE ratio of 23.35 and a beta of 0.80.

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 91.11%.

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.