CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 43,000 Shares of DT Midstream, Inc. $DTM

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its position in DT Midstream, Inc. (NYSE:DTM) by 5.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 687,100 shares of the company’s stock after selling 43,000 shares during the quarter. DT Midstream makes up about 3.8% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s portfolio, making the stock its 7th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in DT Midstream were worth $82,088,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of DTM. Bank of New York Mellon Corp increased its holdings in DT Midstream by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 892,353 shares of the company’s stock worth $120,173,000 after purchasing an additional 3,689 shares during the period. Chickasaw Capital Management LLC raised its position in DT Midstream by 38.0% during the 3rd quarter. Chickasaw Capital Management LLC now owns 522,558 shares of the company’s stock valued at $62,430,000 after purchasing an additional 143,766 shares in the last quarter. Energy Income Partners LLC lifted its holdings in shares of DT Midstream by 1.0% in the 1st quarter. Energy Income Partners LLC now owns 429,858 shares of the company’s stock worth $57,889,000 after buying an additional 4,189 shares during the period. Recurrent Investment Advisors LLC lifted its holdings in shares of DT Midstream by 0.4% in the 1st quarter. Recurrent Investment Advisors LLC now owns 355,156 shares of the company’s stock worth $47,829,000 after buying an additional 1,370 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of DT Midstream by 5.7% in the 1st quarter. First Trust Advisors LP now owns 350,989 shares of the company’s stock worth $47,268,000 after buying an additional 18,843 shares during the period. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Performance

Shares of NYSE:DTM opened at $126.98 on Tuesday. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 27.79, a price-to-earnings-growth ratio of 3.47 and a beta of 0.72. DT Midstream, Inc. has a 52 week low of $105.24 and a 52 week high of $152.88. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $126.23 and a 200 day moving average of $134.46.

DT Midstream (NYSE:DTM) last posted its earnings results on Thursday, July 30th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.08). The company had revenue of $332.57 million for the quarter, compared to analysts’ expectations of $325.84 million. DT Midstream had a return on equity of 9.58% and a net margin of 35.72%. During the same quarter in the prior year, the company earned $1.04 EPS. DT Midstream has set its FY 2026 guidance at 4.420-4.820 EPS. On average, sell-side analysts predict that DT Midstream, Inc. will post 4.57 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Monday, September 21st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, September 21st. DT Midstream’s payout ratio is presently 77.02%.

Analysts Set New Price Targets

DTM has been the topic of a number of recent research reports. Wolfe Research raised DT Midstream from a “peer perform” rating to an “outperform” rating and set a $145.00 price target on the stock in a research report on Wednesday, August 26th. Weiss Ratings downgraded DT Midstream from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, August 21st. Morgan Stanley lowered their price objective on shares of DT Midstream from $170.00 to $164.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Barclays dropped their target price on shares of DT Midstream from $143.00 to $142.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 6th. Finally, Scotiabank set a $165.00 target price on shares of DT Midstream in a report on Thursday, October 15th. Ten research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $151.36.

DT Midstream Company Profile

DT Midstream, Inc (NYSE: DTM) is an independent North American energy company focused on the transportation, storage and gathering of natural gas. The company owns and operates interstate and intrastate pipeline systems, natural gas storage facilities, and gathering and processing infrastructure that connect producers with utilities, power generators, industrial customers and other energy markets.

DT Midstream’s operations are concentrated in the United States, including the Midwest, Northeast and Gulf Coast regions.