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

Teacher Retirement System of Texas reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 67.3% during the third quarter, Holdings Channel reports. The institutional investor 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 quarter.

Other large investors have also recently modified their holdings of the company. Miller Howard Investments Inc. NY grew its position in DT Midstream by 24.9% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 210,411 shares of the company’s stock worth $23,789,000 after acquiring an additional 41,929 shares during the last quarter. Clean Energy Transition LLP grew its holdings in shares of DT Midstream by 84.7% in the second quarter. Clean Energy Transition LLP now owns 324,763 shares of the company’s stock worth $35,695,000 after purchasing an additional 148,911 shares during the last quarter. First American Bank purchased a new position in shares of DT Midstream in the third quarter worth $1,373,000. 59 North Capital Management LP bought a new stake in DT Midstream during the 2nd quarter valued at $226,757,000. Finally, Eagle Global Advisors LLC raised its holdings in DT Midstream by 8.8% during the 3rd quarter. Eagle Global Advisors LLC now owns 505,471 shares of the company’s stock valued at $57,149,000 after buying an additional 41,076 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Up 0.4%

Shares of DT Midstream stock opened at $125.95 on Friday. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $126.37. The firm has a market cap 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 company has a 50-day moving average of $120.04 and a 200 day moving average of $111.81. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.92.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $1.03 by $0.10. The business had revenue of $314.00 million for 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 quarter in the previous year, the firm posted $0.90 earnings per share. As a group, sell-side analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DTM. Stifel Nicolaus boosted their price objective on shares of DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Bank of America boosted their price target on DT Midstream from $118.00 to $132.00 and gave the company a “buy” rating in a report on Thursday, December 11th. UBS Group upped their price target on DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Barclays upped their target price on DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a report on Wednesday, January 14th. Finally, Morgan Stanley lifted their price target on shares of DT Midstream from $126.00 to $137.00 and gave the company an “underweight” rating in a report on Wednesday, November 12th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, DT Midstream has a consensus rating of “Moderate Buy” and a consensus target price of $125.91.

DT Midstream 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.