DT Midstream, Inc. $DTM is CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s 7th Largest Position

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 679,300 shares of the company’s stock after selling 69,000 shares during the quarter. DT Midstream comprises about 4.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 7th largest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.67% of DT Midstream worth $76,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of DTM. Private Trust Co. NA grew its holdings in DT Midstream by 23.6% in the third quarter. Private Trust Co. NA now owns 535 shares of the company’s stock valued at $60,000 after purchasing an additional 102 shares during the period. Ballentine Partners LLC boosted its holdings in shares of DT Midstream by 4.2% in the 2nd quarter. Ballentine Partners LLC now owns 2,604 shares of the company’s stock valued at $286,000 after purchasing an additional 106 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of DT Midstream by 39.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 436 shares of the company’s stock valued at $42,000 after buying an additional 123 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of DT Midstream by 15.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 970 shares of the company’s stock valued at $107,000 after buying an additional 130 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of DT Midstream by 8.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,955 shares of the company’s stock worth $221,000 after buying an additional 146 shares during the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Stock Up 0.0%

NYSE DTM opened at $120.81 on Wednesday. The stock has a market cap of $12.28 billion, a PE ratio of 30.51, a P/E/G ratio of 2.32 and a beta of 0.76. DT Midstream, Inc. has a fifty-two week low of $83.30 and a fifty-two week high of $122.70. The business has a 50 day moving average price of $116.00 and a two-hundred day moving average price of $109.50. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.69.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.10. The company had revenue of $314.00 million for the quarter, compared to analyst estimates of $309.21 million. DT Midstream had a net margin of 34.30% and a return on equity of 8.83%. During the same quarter last year, the firm posted $0.90 earnings per share. DT Midstream has set its FY 2025 guidance at 4.150-4.450 EPS. As a group, sell-side analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, December 15th. DT Midstream’s dividend payout ratio is presently 82.83%.

Analyst Ratings Changes

DTM has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on DT Midstream in a research report on Monday, November 3rd. They set a “buy” rating and a $125.00 price target for the company. UBS Group lifted their price objective on DT Midstream from $115.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Morgan Stanley boosted their target price on DT Midstream from $126.00 to $137.00 and gave the stock an “underweight” rating in a report on Wednesday, November 12th. Citigroup increased their target price on shares of DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Stifel Nicolaus lifted their price target on shares of DT Midstream from $119.00 to $121.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $123.25.

DT Midstream Company 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.