DT Midstream, Inc. (NYSE:DTM) Shares Sold by Chickasaw Capital Management LLC

Chickasaw Capital Management LLC reduced its stake in DT Midstream, Inc. (NYSE:DTM) by 2.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 310,893 shares of the company’s stock after selling 6,338 shares during the period. DT Midstream comprises approximately 1.2% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 14th largest position. Chickasaw Capital Management LLC’s holdings in DT Midstream were worth $29,995,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after acquiring an additional 117 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of DT Midstream by 130.2% during the 1st quarter. Versant Capital Management Inc now owns 488 shares of the company’s stock worth $47,000 after purchasing an additional 276 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of DT Midstream during the 4th quarter worth approximately $50,000. Wilmington Savings Fund Society FSB increased its holdings in DT Midstream by 38.3% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 509 shares of the company’s stock valued at $51,000 after purchasing an additional 141 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in DT Midstream by 21.1% in the fourth quarter. Larson Financial Group LLC now owns 683 shares of the company’s stock valued at $68,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 81.53% of the company’s stock.

Insider Transactions at DT Midstream

In other news, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was purchased at an average price of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the purchase, the director now owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

DT Midstream Stock Performance

Shares of DTM opened at $106.68 on Tuesday. DT Midstream, Inc. has a 1 year low of $66.37 and a 1 year high of $114.50. The stock has a market capitalization of $10.84 billion, a PE ratio of 25.96 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a 50-day simple moving average of $98.48 and a 200-day simple moving average of $100.16.

DT Midstream (NYSE:DTM) last issued its earnings results on Wednesday, April 30th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.07 by ($0.01). DT Midstream had a net margin of 41.19% and a return on equity of 9.31%. The firm had revenue of $288.81 million during the quarter, compared to analyst estimates of $285.48 million. During the same period last year, the business earned $0.99 EPS. On average, analysts predict that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 annualized dividend and a dividend yield of 3.07%. DT Midstream’s dividend payout ratio (DPR) is currently 89.37%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wells Fargo & Company lowered their price target on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Stifel Nicolaus lowered their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a report on Thursday, February 27th. UBS Group lifted their target price on DT Midstream from $102.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Bank of America initiated coverage on shares of DT Midstream in a research report on Monday, March 24th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Morgan Stanley raised their price objective on shares of DT Midstream from $92.00 to $105.00 and gave the company an “underweight” rating in a research note on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $108.36.

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.