CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Boosts Stock Position in DT Midstream, Inc. $DTM

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of DT Midstream, Inc. (NYSE:DTM) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 749,300 shares of the company’s stock after acquiring an additional 70,000 shares during the period. DT Midstream makes up approximately 5.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s investment portfolio, making the stock its 6th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in DT Midstream were worth $89,676,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 59 North Capital Management LP raised its stake in shares of DT Midstream by 49.0% in the 3rd quarter. 59 North Capital Management LP now owns 3,074,081 shares of the company’s stock valued at $347,556,000 after purchasing an additional 1,010,965 shares during the period. Merewether Investment Management LP raised its stake in shares of DT Midstream by 192.4% in the 3rd quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company’s stock valued at $113,128,000 after purchasing an additional 658,400 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of DT Midstream in the 3rd quarter valued at about $43,347,000. Holocene Advisors LP raised its stake in shares of DT Midstream by 117.7% in the 3rd quarter. Holocene Advisors LP now owns 554,059 shares of the company’s stock valued at $62,642,000 after purchasing an additional 299,609 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of DT Midstream by 54.4% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 747,781 shares of the company’s stock valued at $84,544,000 after purchasing an additional 263,312 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Price Performance

NYSE:DTM opened at $134.26 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The stock’s 50-day simple moving average is $135.68 and its 200 day simple moving average is $123.52. The company has a market cap of $13.70 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.73 and a beta of 0.75. DT Midstream, Inc. has a 52-week low of $91.33 and a 52-week high of $143.67.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The company had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same period in the prior year, the firm posted $0.94 EPS. As a group, sell-side analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 16th were given a $0.88 dividend. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Monday, March 16th. DT Midstream’s dividend payout ratio (DPR) is presently 81.67%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Morgan Stanley lifted their price target on DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, February 10th. Wells Fargo & Company lifted their price target on DT Midstream from $150.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday, March 13th. Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, January 21st. Mizuho lifted their price target on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a research note on Tuesday, February 17th. Finally, Wall Street Zen downgraded DT Midstream from a “hold” rating to a “sell” rating in a research note on Saturday, March 28th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $144.10.

Insider Activity

In related news, CFO Jeffrey A. Jewell bought 185 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were acquired at an average price of $136.33 per share, with a total value of $25,221.05. Following the completion of the transaction, the chief financial officer owned 89,583 shares in the company, valued at $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

DT Midstream Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.