State of New Jersey Common Pension Fund D Sells 2,644 Shares of DT Midstream, Inc. $DTM

State of New Jersey Common Pension Fund D lessened its position in shares of DT Midstream, Inc. (NYSE:DTM) by 8.2% in the first quarter, Holdings Channel.com reports. The firm owned 29,456 shares of the company’s stock after selling 2,644 shares during the period. State of New Jersey Common Pension Fund D’s holdings in DT Midstream were worth $2,842,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its holdings in DT Midstream by 4.8% during the 1st quarter. Ballentine Partners LLC now owns 2,498 shares of the company’s stock worth $241,000 after purchasing an additional 114 shares in the last quarter. Independent Advisor Alliance boosted its stake in shares of DT Midstream by 2.5% during the 1st quarter. Independent Advisor Alliance now owns 4,713 shares of the company’s stock worth $455,000 after buying an additional 117 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of DT Midstream by 44.0% during the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock worth $43,000 after buying an additional 135 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of DT Midstream by 1.1% during the 4th quarter. NewEdge Advisors LLC now owns 13,413 shares of the company’s stock worth $1,334,000 after buying an additional 142 shares during the last quarter. Finally, Applied Finance Capital Management LLC boosted its stake in shares of DT Midstream by 6.5% during the 1st quarter. Applied Finance Capital Management LLC now owns 2,410 shares of the company’s stock worth $233,000 after buying an additional 147 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Trading Up 0.4%

Shares of NYSE:DTM opened at $102.39 on Thursday. DT Midstream, Inc. has a 52-week low of $73.52 and a 52-week high of $114.50. The company has a market capitalization of $10.40 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The company has a 50-day simple moving average of $104.03 and a 200 day simple moving average of $100.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88.

DT Midstream (NYSE:DTM) last issued its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.06. DT Midstream had a net margin of 33.90% and a return on equity of 8.48%. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. During the same period last year, the business posted $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. Sell-side analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.82 per share. The ex-dividend date is Monday, September 15th. This represents a $3.28 annualized dividend and a yield of 3.2%. DT Midstream’s dividend payout ratio (DPR) is 87.94%.

Analyst Ratings Changes

DTM has been the subject of a number of recent research reports. US Capital Advisors downgraded shares of DT Midstream from a “moderate buy” rating to a “hold” rating in a research note on Monday, April 28th. Barclays increased their price objective on shares of DT Midstream from $102.00 to $103.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 20th. Morgan Stanley increased their price objective on shares of DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 6th. Wells Fargo & Company increased their price objective on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, Stifel Nicolaus increased their price objective on shares of DT Midstream from $102.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $110.91.

Insider Transactions at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the sale, the vice president directly owned 5,171 shares in the company, valued at $540,214.37. This trade represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

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.