CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Increases Holdings in DT Midstream, Inc. $DTM

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in DT Midstream, Inc. (NYSE:DTM) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 749,300 shares of the company’s stock after buying an additional 70,000 shares during the period. DT Midstream comprises approximately 5.1% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings, making the stock its 6th largest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned about 0.74% of DT Midstream worth $89,676,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in DT Midstream in the 4th quarter valued at $28,000. Richardson Financial Services Inc. boosted its position in DT Midstream by 62.7% in the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock valued at $29,000 after buying an additional 94 shares during the last quarter. Mather Group LLC. bought a new position in DT Midstream in the 3rd quarter valued at $30,000. Centerpoint Advisors LLC boosted its position in shares of DT Midstream by 198.9% in the 3rd quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock worth $30,000 after purchasing an additional 179 shares during the last quarter. Finally, First Horizon Corp bought a new position in shares of DT Midstream in the 3rd quarter worth $32,000. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Stock Performance

DTM stock opened at $134.26 on Friday. The business’s 50-day moving average price is $135.68 and its two-hundred day moving average price is $123.52. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.68. The firm has a market cap of $13.70 billion, a PE ratio of 31.15, a P/E/G ratio of 2.73 and a beta of 0.75. DT Midstream, Inc. has a 1-year low of $91.33 and a 1-year high of $143.67.

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

DT Midstream Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th were issued a dividend of $0.88 per share. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, March 16th. DT Midstream’s dividend payout ratio is presently 81.67%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on DTM shares. Wall Street Zen lowered DT Midstream from a “hold” rating to a “sell” rating in a research report on Saturday, March 28th. JPMorgan Chase & Co. raised their price target on DT Midstream from $126.00 to $142.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Citigroup raised their price target on DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Wells Fargo & Company raised their price target on DT Midstream from $150.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, March 13th. Finally, Barclays raised their price target on DT Midstream from $119.00 to $141.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, DT Midstream currently has an average rating of “Hold” and an average price target of $144.10.

Insiders Place Their Bets

In other DT Midstream news, CFO Jeffrey A. Jewell bought 185 shares of DT Midstream stock in a transaction on Wednesday, February 25th. The shares were purchased at an average cost of $136.33 per share, for a total transaction of $25,221.05. Following the completion of the acquisition, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

About DT Midstream

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.