Chickasaw Capital Management LLC Boosts Stock Position in DT Midstream, Inc. $DTM

Key Points

• Chickasaw Capital Management LLC increased its stake in DT Midstream, Inc. by 0.8% during the second quarter, owning approximately 313,368 shares valued at about $34.4 million.
• The company recently reported earnings of $1.04 EPS, beating analysts' estimates, with a revenue of $299 million for the last quarter.
• DT Midstream announced a quarterly dividend of $0.82 per share, representing an annual yield of 3.1%, set to be paid on October 15th to shareholders of record.

Chickasaw Capital Management LLC grew its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 0.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 313,368 shares of the company's stock after buying an additional 2,475 shares during the period. DT Midstream accounts for about 1.4% of Chickasaw Capital Management LLC's portfolio, making the stock its 12th biggest holding. Chickasaw Capital Management LLC owned approximately 0.31% of DT Midstream worth $34,442,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of DT Midstream in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management acquired a new stake in shares of DT Midstream in the first quarter valued at approximately $26,000. Twin Tree Management LP acquired a new stake in shares of DT Midstream in the first quarter valued at approximately $29,000. Geneos Wealth Management Inc. lifted its position in shares of DT Midstream by 39.3% in the first 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 last quarter. Finally, Bessemer Group Inc. lifted its position in shares of DT Midstream by 44.0% in the first quarter. Bessemer Group Inc. now owns 442 shares of the company's stock valued at $43,000 after buying an additional 135 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Stifel Nicolaus lifted their price target on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Mizuho lifted their price target on DT Midstream from $105.00 to $108.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. Finally, Morgan Stanley lifted their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $110.67.

Insiders Place Their Bets

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the completion of the transaction, the vice president directly owned 5,171 shares of the company's stock, valued at approximately $540,214.37. This represents a 47.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.34% of the company's stock.

DT Midstream Stock Down 0.4%

DTM traded down $0.43 during midday trading on Friday, reaching $107.27. 2,410,082 shares of the company were exchanged, compared to its average volume of 677,679. The company's fifty day moving average price is $103.61 and its 200 day moving average price is $101.40. DT Midstream, Inc. has a one year low of $76.13 and a one year high of $114.50. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.35 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.88 and a current ratio of 0.88.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.06. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.The business had revenue of $299.00 million during the quarter, compared to analyst estimates of $295.70 million. During the same period in the prior year, the company earned $0.98 earnings per share. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, analysts expect that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio is 87.94%.

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.