DT Midstream, Inc. (NYSE:DTM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in DT Midstream, Inc. (NYSE:DTM) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 245,433 shares of the company’s stock after selling 9,035 shares during the quarter. Retirement Systems of Alabama owned about 0.25% of DT Midstream worth $24,403,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. FMR LLC grew its position in DT Midstream by 1,476.9% in the third quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after acquiring an additional 754,839 shares in the last quarter. Brookfield Corp ON boosted its stake in shares of DT Midstream by 171.3% in the third quarter. Brookfield Corp ON now owns 1,038,501 shares of the company’s stock valued at $81,689,000 after purchasing an additional 655,695 shares during the period. International Assets Investment Management LLC acquired a new stake in DT Midstream during the 3rd quarter valued at $39,166,000. Charles Schwab Investment Management Inc. increased its stake in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after buying an additional 267,269 shares during the period. Finally, State Street Corp lifted its holdings in DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after buying an additional 202,447 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 1.9 %

NYSE:DTM opened at $103.25 on Thursday. The firm has a market capitalization of $10.03 billion, a PE ratio of 25.12 and a beta of 0.79. DT Midstream, Inc. has a 52 week low of $51.17 and a 52 week high of $114.50. 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 50 day moving average of $103.34 and a 200-day moving average of $90.26.

Analysts Set New Price Targets

Several analysts have recently weighed in on DTM shares. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Raymond James lifted their price objective on DT Midstream from $110.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. increased their target price on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, The Goldman Sachs Group increased their price objective on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $101.56.

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.