Chickasaw Capital Management LLC Has $23.80 Million Position in DT Midstream, Inc. (NYSE:DTM)

Chickasaw Capital Management LLC grew its stake in DT Midstream, Inc. (NYSE:DTM) by 24.5% during the third quarter, Holdings Channel reports. The firm owned 302,600 shares of the company’s stock after purchasing an additional 59,540 shares during the period. DT Midstream makes up approximately 1.0% of Chickasaw Capital Management LLC’s portfolio, making the stock its 16th largest position. Chickasaw Capital Management LLC’s holdings in DT Midstream were worth $23,803,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bright Rock Capital Management LLC purchased a new position in DT Midstream during the first quarter valued at approximately $916,000. Prevail Innovative Wealth Advisors LLC grew its holdings in shares of DT Midstream by 37.9% during the first quarter. Prevail Innovative Wealth Advisors LLC now owns 37,898 shares of the company’s stock worth $2,316,000 after purchasing an additional 10,418 shares in the last quarter. Illinois Municipal Retirement Fund increased its position in shares of DT Midstream by 137.6% in the first quarter. Illinois Municipal Retirement Fund now owns 30,109 shares of the company’s stock worth $1,840,000 after purchasing an additional 17,437 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in DT Midstream in the first quarter valued at approximately $1,085,000. Finally, Cetera Investment Advisers lifted its position in DT Midstream by 1,223.2% during the first quarter. Cetera Investment Advisers now owns 54,107 shares of the company’s stock valued at $3,306,000 after purchasing an additional 50,018 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Up 2.5 %

Shares of DTM stock traded up $2.12 during mid-day trading on Friday, hitting $85.87. The company’s stock had a trading volume of 917,683 shares, compared to its average volume of 642,731. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. DT Midstream, Inc. has a 52-week low of $51.17 and a 52-week high of $85.91. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 20.69 and a beta of 0.74. The business has a 50-day moving average price of $77.29 and a 200 day moving average price of $70.72.

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

DT Midstream Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.