Teacher Retirement System of Texas Sells 37,034 Shares of DT Midstream, Inc. $DTM

Teacher Retirement System of Texas reduced its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 67.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,954 shares of the company’s stock after selling 37,034 shares during the quarter. Teacher Retirement System of Texas’ holdings in DT Midstream were worth $2,030,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DTM. Miller Howard Investments Inc. NY increased its holdings in DT Midstream by 24.9% in the third quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock valued at $23,789,000 after purchasing an additional 41,929 shares during the period. Clean Energy Transition LLP grew its position in shares of DT Midstream by 84.7% in the 2nd quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock valued at $35,695,000 after buying an additional 148,911 shares during the last quarter. First American Bank acquired a new stake in shares of DT Midstream in the third quarter valued at about $1,373,000. 59 North Capital Management LP bought a new position in shares of DT Midstream during the second quarter worth about $226,757,000. Finally, Eagle Global Advisors LLC lifted its stake in shares of DT Midstream by 8.8% in the third quarter. Eagle Global Advisors LLC now owns 505,471 shares of the company’s stock worth $57,149,000 after acquiring an additional 41,076 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Stock Up 0.4%

DTM stock opened at $125.95 on Friday. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.23 and a beta of 0.76. The stock has a fifty day moving average of $120.04 and a 200-day moving average of $111.81. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $126.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 0.92.

DT Midstream (NYSE:DTM) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.10. The firm had revenue of $314.00 million during the quarter, compared to analyst estimates of $309.21 million. DT Midstream had a return on equity of 8.83% and a net margin of 34.30%.During the same period last year, the company earned $0.90 earnings per share. As a group, equities research analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

Analyst Ratings Changes

DTM has been the subject of a number of recent analyst reports. Citigroup increased their target price on shares of DT Midstream from $115.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Bank of America upped their price objective on shares of DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Stifel Nicolaus lifted 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. Barclays boosted their target price on shares of DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Finally, Wells Fargo & Company increased their price target on DT Midstream from $121.00 to $133.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. Seven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, DT Midstream presently has a consensus rating of “Moderate Buy” and an average price target of $125.91.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.