CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 42,968 Shares of DT Midstream, Inc. (NYSE:DTM)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its position in shares of DT Midstream, Inc. (NYSE:DTM) by 5.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 784,562 shares of the company’s stock after selling 42,968 shares during the quarter. DT Midstream accounts for about 5.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 5th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in DT Midstream were worth $78,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FMR LLC grew its position in shares of DT Midstream by 1,476.9% in the 3rd quarter. FMR LLC now owns 805,950 shares of the company’s stock valued at $63,396,000 after buying an additional 754,839 shares during the last quarter. Brookfield Corp ON lifted its stake 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 worth $81,689,000 after acquiring an additional 655,695 shares during the period. International Assets Investment Management LLC bought a new stake in DT Midstream in the third quarter valued at approximately $39,166,000. Charles Schwab Investment Management Inc. increased its position in DT Midstream by 30.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,156,598 shares of the company’s stock valued at $90,978,000 after purchasing an additional 267,269 shares during the period. Finally, State Street Corp raised its holdings in 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 purchasing an additional 202,447 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group increased their price target on DT Midstream from $74.00 to $94.00 and gave the stock a “sell” rating in a report on Thursday, December 19th. Stifel Nicolaus raised 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 boosted their price target on DT Midstream from $82.00 to $92.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. Finally, Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and increased their price target for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $99.88.

DT Midstream Stock Performance

NYSE DTM opened at $111.46 on Friday. The company has a market cap of $10.83 billion, a P/E ratio of 27.12 and a beta of 0.79. The company has a fifty day simple moving average of $104.05 and a 200 day simple moving average of $88.48. The company has a current ratio of 0.95, a quick 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.

DT Midstream (NYSE:DTM) last posted its 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 for the quarter, compared to the consensus estimate of $242.64 million. During the same period in the previous year, the firm earned $0.94 earnings per share. Sell-side analysts predict that DT Midstream, Inc. will post 3.84 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th were paid a $0.735 dividend. This represents a $2.94 annualized dividend and a dividend yield of 2.64%. The ex-dividend date was Monday, December 16th. DT Midstream’s dividend payout ratio (DPR) is presently 71.53%.

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.