Chickasaw Capital Management LLC Raises Stock Holdings in DT Midstream, Inc. (NYSE:DTM)

Chickasaw Capital Management LLC boosted its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 317,231 shares of the company’s stock after acquiring an additional 14,631 shares during the quarter. DT Midstream accounts for 1.3% of Chickasaw Capital Management LLC’s holdings, making the stock its 15th largest position. Chickasaw Capital Management LLC owned approximately 0.33% of DT Midstream worth $31,542,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Caprock Group LLC increased its position in shares of DT Midstream by 3.7% during the third quarter. Caprock Group LLC now owns 4,058 shares of the company’s stock worth $322,000 after purchasing an additional 143 shares in the last quarter. TFG Advisers LLC grew its position in DT Midstream by 3.1% in the third quarter. TFG Advisers LLC now owns 5,774 shares of the company’s stock worth $454,000 after acquiring an additional 172 shares during the period. Princeton Global Asset Management LLC grew its holdings in shares of DT Midstream by 8.6% during the 3rd quarter. Princeton Global Asset Management LLC now owns 2,525 shares of the company’s stock worth $199,000 after purchasing an additional 200 shares during the period. First Citizens Bank & Trust Co. boosted its stake in DT Midstream by 6.9% during the third quarter. First Citizens Bank & Trust Co. now owns 3,532 shares of the company’s stock worth $278,000 after buying an additional 228 shares during the period. Finally, UMB Bank n.a. increased its holdings in DT Midstream by 324.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the company’s stock valued at $25,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Stifel Nicolaus upgraded DT Midstream from a “hold” rating to a “buy” rating and boosted their price objective for the company from $89.00 to $106.00 in a research note on Thursday, December 19th. 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. Wells Fargo & Company boosted their price objective on shares of DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Barclays increased their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.89.

DT Midstream Stock Performance

NYSE DTM remained flat at $103.12 during trading on Tuesday. The company’s stock had a trading volume of 327,529 shares, compared to its average volume of 628,699. 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 $109.85. The stock has a fifty day moving average price of $100.13 and a two-hundred day moving average price of $84.91. The company has a market capitalization of $10.02 billion, a price-to-earnings ratio of 25.09 and a beta of 0.79.

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

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 16th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is currently 71.53%.

About DT Midstream

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.