DT Midstream, Inc. (NYSE:DTM) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio grew its holdings in DT Midstream, Inc. (NYSE:DTM) by 12.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,629 shares of the company’s stock after buying an additional 4,595 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in DT Midstream were worth $3,353,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in DTM. UMB Bank n.a. increased its holdings in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock worth $25,000 after acquiring an additional 240 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of DT Midstream in the second quarter valued at about $26,000. V Square Quantitative Management LLC purchased a new stake in shares of DT Midstream during the third quarter worth about $29,000. First Command Advisory Services Inc. acquired a new position in shares of DT Midstream during the 2nd quarter worth about $31,000. Finally, American National Bank lifted its stake in DT Midstream by 100.0% in the 2nd quarter. American National Bank now owns 468 shares of the company’s stock valued at $33,000 after buying an additional 234 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on DTM shares. Morgan Stanley boosted their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. boosted their price target on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. The Goldman Sachs Group raised their price objective on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Barclays upped their target price on shares of DT Midstream from $85.00 to $92.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and raised their price target for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.78.

DT Midstream Price Performance

DT Midstream stock opened at $99.32 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.65 billion, a P/E ratio of 24.17 and a beta of 0.77. The company has a 50-day moving average price of $95.85 and a 200 day moving average price of $81.52. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $109.85.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). The firm had revenue of $248.00 million for the quarter, compared to analysts’ expectations of $242.64 million. DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. During the same period in the previous year, the firm posted $0.94 EPS. Sell-side analysts anticipate that DT Midstream, Inc. will post 3.84 earnings per share for the current year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s dividend payout ratio is presently 71.53%.

DT Midstream Company 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.