State Board of Administration of Florida Retirement System Acquires 1,040 Shares of DT Midstream, Inc. $DTM

State Board of Administration of Florida Retirement System boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 97,663 shares of the company’s stock after buying an additional 1,040 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of DT Midstream worth $10,734,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DTM. Twin Tree Management LP purchased a new position in shares of DT Midstream during the 1st quarter worth $29,000. Parkside Financial Bank & Trust increased its stake in shares of DT Midstream by 138.2% in the 2nd quarter. Parkside Financial Bank & Trust now owns 312 shares of the company’s stock worth $34,000 after purchasing an additional 181 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in DT Midstream in the 2nd quarter worth $38,000. Geneos Wealth Management Inc. lifted its position in DT Midstream by 39.3% during the first quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after purchasing an additional 123 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in DT Midstream during the first quarter valued at $81,000. 81.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DTM has been the subject of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of DT Midstream in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Stifel Nicolaus raised their target price on shares of DT Midstream from $119.00 to $121.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Mizuho upped their price target on shares of DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research report on Friday, August 29th. Finally, Jefferies Financial Group began coverage on shares of DT Midstream in a research note on Monday, November 3rd. They issued a “buy” rating and a $125.00 price objective for the company. Eight analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, DT Midstream currently has an average rating of “Hold” and an average price target of $117.46.

DT Midstream Stock Down 0.3%

NYSE DTM opened at $121.10 on Tuesday. DT Midstream, Inc. has a 12 month low of $83.30 and a 12 month high of $121.82. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.69. The stock has a market cap of $12.31 billion, a PE ratio of 30.58, a P/E/G ratio of 2.35 and a beta of 0.76. The stock’s 50 day moving average is $112.60 and its 200 day moving average is $107.33.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The business had revenue of $314.00 million during the quarter, compared to analyst estimates of $309.21 million. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. During the same period last year, the firm posted $0.90 EPS. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. Research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Monday, December 15th. DT Midstream’s payout ratio is currently 82.83%.

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.