Chickasaw Capital Management LLC Sells 6,338 Shares of DT Midstream, Inc. (NYSE:DTM)

Chickasaw Capital Management LLC trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,893 shares of the company's stock after selling 6,338 shares during the period. DT Midstream makes up 1.2% of Chickasaw Capital Management LLC's portfolio, making the stock its 14th biggest holding. Chickasaw Capital Management LLC owned approximately 0.31% of DT Midstream worth $29,995,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Truist Financial Corp bought a new stake in DT Midstream during the fourth quarter valued at about $771,000. Thrivent Financial for Lutherans raised its position in DT Midstream by 55.9% in the fourth quarter. Thrivent Financial for Lutherans now owns 35,570 shares of the company's stock worth $3,536,000 after purchasing an additional 12,755 shares in the last quarter. Atria Investments Inc grew its stake in shares of DT Midstream by 82.0% in the 4th quarter. Atria Investments Inc now owns 15,412 shares of the company's stock valued at $1,532,000 after purchasing an additional 6,946 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of DT Midstream in the 4th quarter valued at approximately $645,000. Finally, Blackstone Inc. grew its stake in shares of DT Midstream by 2,783.1% in the 4th quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock valued at $162,199,000 after purchasing an additional 1,574,705 shares during the period. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Price Performance

Shares of NYSE DTM traded up $0.07 during mid-day trading on Friday, hitting $108.23. 752,640 shares of the stock were exchanged, compared to its average volume of 882,481. The company has a market cap of $10.99 billion, a P/E ratio of 26.33 and a beta of 0.78. The stock's fifty day simple moving average is $99.31 and its two-hundred day simple moving average is $100.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. DT Midstream, Inc. has a twelve month low of $66.98 and a twelve month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $288.81 million for the quarter, compared to analyst estimates of $285.48 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same period in the previous year, the business posted $0.99 EPS. As a group, analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Monday, June 16th. DT Midstream's dividend payout ratio is currently 89.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America assumed coverage on DT Midstream in a research note on Monday, March 24th. They issued a "buy" rating and a $110.00 price objective on the stock. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research note on Monday, April 28th. Williams Trading set a $110.00 price objective on DT Midstream in a research note on Monday, March 24th. Stifel Nicolaus lowered their price objective on DT Midstream from $106.00 to $102.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Barclays upped their price objective on DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. 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 a consensus rating of "Hold" and a consensus target price of $109.27.

Insider Activity at DT Midstream

In related news, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was acquired at an average price of $86.92 per share, with a total value of $86,920.00. Following the completion of the acquisition, the director now directly 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

DT Midstream Company 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.