DT Midstream, Inc. (NYSE:DTM) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 784,562 shares of the company’s stock after selling 42,968 shares during the period. DT Midstream accounts for approximately 5.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 5th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 0.81% of DT Midstream worth $78,009,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after acquiring an additional 202,447 shares during the period. Geode Capital Management LLC lifted its holdings in DT Midstream by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,066,278 shares of the company’s stock valued at $162,567,000 after purchasing an additional 85,462 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in DT Midstream by 30.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock worth $90,978,000 after purchasing an additional 267,269 shares during the period. Brookfield Corp ON increased its holdings 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 last quarter. Finally, FMR LLC raised its position in shares of 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 purchasing an additional 754,839 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Trading Up 0.1 %

Shares of DT Midstream stock opened at $111.46 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12-month low of $51.17 and a 12-month high of $114.50. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 27.12 and a beta of 0.79. The firm’s 50-day moving average price is $104.05 and its two-hundred day moving average price is $88.48.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period last year, the business earned $0.94 earnings per share. On average, analysts forecast that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 16th were given a dividend of $0.735 per share. The ex-dividend date was Monday, December 16th. This represents a $2.94 annualized dividend and a dividend yield of 2.64%. DT Midstream’s dividend payout ratio is currently 71.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DTM. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Barclays initiated coverage on DT Midstream in a research report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley increased their price objective on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus raised shares of DT Midstream from a “hold” rating to a “buy” rating and boosted their target price for the company from $89.00 to $106.00 in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DT Midstream presently has an average rating of “Hold” and a consensus price target of $99.88.

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.