DT Midstream, Inc. (NYSE:DTM) Position Boosted by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 24.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 302,600 shares of the company’s stock after purchasing an additional 59,540 shares during the period. DT Midstream comprises approximately 1.0% of Chickasaw Capital Management LLC’s holdings, making the stock its 16th largest position. Chickasaw Capital Management LLC owned approximately 0.31% of DT Midstream worth $23,803,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its stake in shares of DT Midstream by 16.0% in the second quarter. Blue Trust Inc. now owns 1,032 shares of the company’s stock worth $73,000 after acquiring an additional 142 shares during the last quarter. Raymond James & Associates increased its holdings in DT Midstream by 1.1% in the second quarter. Raymond James & Associates now owns 18,148 shares of the company’s stock worth $1,289,000 after buying an additional 201 shares during the last quarter. GAMMA Investing LLC raised its position in DT Midstream by 21.3% during the first quarter. GAMMA Investing LLC now owns 1,185 shares of the company’s stock valued at $72,000 after acquiring an additional 208 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in DT Midstream by 39.8% in the second quarter. First Horizon Advisors Inc. now owns 787 shares of the company’s stock valued at $56,000 after acquiring an additional 224 shares during the last quarter. Finally, Signaturefd LLC grew its position in DT Midstream by 11.7% in the second quarter. Signaturefd LLC now owns 2,212 shares of the company’s stock worth $157,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Trading Up 2.5 %

NYSE DTM traded up $2.12 during trading on Friday, reaching $85.87. 917,683 shares of the stock traded hands, compared to its average volume of 642,731. The stock’s 50-day moving average price is $77.29 and its 200 day moving average price is $70.72. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 20.69 and a beta of 0.74. DT Midstream, Inc. has a fifty-two week low of $51.17 and a fifty-two week high of $85.91.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million during the quarter, compared to the consensus estimate of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same period in the prior year, the business posted $0.93 EPS. Analysts predict that DT Midstream, Inc. will post 3.99 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.94 annualized dividend and a dividend yield of 3.42%. DT Midstream’s dividend payout ratio is presently 70.84%.

Analyst Ratings Changes

A number of brokerages have weighed in on DTM. Stifel Nicolaus boosted their price target on DT Midstream from $70.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays raised their target price on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Citigroup increased their price objective on DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Wells Fargo & Company lifted their price target on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, DT Midstream has an average rating of “Hold” and a consensus target price of $73.00.

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.