Louisiana State Employees Retirement System Boosts Holdings in DT Midstream, Inc. (NYSE:DTM)

Louisiana State Employees Retirement System grew its position in shares of DT Midstream, Inc. (NYSE:DTM) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,400 shares of the company’s stock after purchasing an additional 1,400 shares during the period. Louisiana State Employees Retirement System’s holdings in DT Midstream were worth $2,740,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Blackstone Inc. boosted its stake in DT Midstream by 2,783.1% during the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company’s stock valued at $162,199,000 after buying an additional 1,574,705 shares during the period. Norges Bank purchased a new stake in shares of DT Midstream in the 4th quarter valued at about $119,520,000. Zimmer Partners LP bought a new stake in shares of DT Midstream during the 4th quarter valued at about $74,572,000. Westwood Holdings Group Inc. grew its holdings in shares of DT Midstream by 108.8% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,084,018 shares of the company’s stock worth $107,784,000 after purchasing an additional 564,899 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of DT Midstream by 733.3% in the fourth quarter. Bank of Montreal Can now owns 458,789 shares of the company’s stock worth $45,617,000 after purchasing an additional 403,730 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DTM has been the subject of several research analyst reports. Williams Trading set a $110.00 target price on shares of DT Midstream in a research report on Monday, March 24th. US Capital Advisors lowered shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research report on Monday, April 28th. Barclays increased their target price on DT Midstream from $102.00 to $103.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 20th. Bank of America started coverage on DT Midstream in a research note on Monday, March 24th. They set a “buy” rating and a $110.00 price target for the company. Finally, Morgan Stanley set a $115.00 price objective on DT Midstream and gave the stock an “underweight” rating in a report on Tuesday, June 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $109.27.

DT Midstream Trading Up 0.6%

Shares of DTM stock opened at $103.28 on Monday. The business has a 50-day moving average of $104.75 and a 200 day moving average of $100.89. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.82 and a quick ratio of 0.82. DT Midstream, Inc. has a 1-year low of $69.82 and a 1-year high of $114.50. The stock has a market capitalization of $10.49 billion, a PE ratio of 28.14, a P/E/G ratio of 1.65 and a beta of 0.78.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing analysts’ consensus estimates of $1.07 by ($0.01). DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. The company had revenue of $288.81 million for the quarter, compared to analysts’ expectations of $285.48 million. During the same period last year, the company posted $0.99 EPS. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.18%. DT Midstream’s payout ratio is presently 89.37%.

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.