Kayne Anderson Capital Advisors LP Has $54.47 Million Stake in DT Midstream, Inc. (NYSE:DTM)

Kayne Anderson Capital Advisors LP lowered its position in shares of DT Midstream, Inc. (NYSE:DTM) by 0.3% during the third quarter, HoldingsChannel.com reports. The fund owned 692,429 shares of the company’s stock after selling 1,776 shares during the quarter. DT Midstream accounts for about 1.4% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 17th biggest position. Kayne Anderson Capital Advisors LP’s holdings in DT Midstream were worth $54,466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DTM. Dimensional Fund Advisors LP increased its holdings in DT Midstream by 12.6% in the second quarter. Dimensional Fund Advisors LP now owns 4,393,511 shares of the company’s stock worth $312,070,000 after purchasing an additional 490,613 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in DT Midstream by 3.4% in the second quarter. Bank of New York Mellon Corp now owns 1,166,694 shares of the company’s stock worth $82,870,000 after purchasing an additional 38,305 shares during the period. Tortoise Capital Advisors L.L.C. increased its stake in DT Midstream by 6.3% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock valued at $72,737,000 after purchasing an additional 60,370 shares in the last quarter. International Assets Investment Management LLC bought a new stake in DT Midstream in the third quarter valued at $39,166,000. Finally, Chickasaw Capital Management LLC raised its holdings in shares of DT Midstream by 24.5% during the third quarter. Chickasaw Capital Management LLC now owns 302,600 shares of the company’s stock valued at $23,803,000 after purchasing an additional 59,540 shares during the period. 81.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DTM shares. Stifel Nicolaus downgraded DT Midstream from a “buy” rating to a “hold” rating and upped their price target for the stock from $78.00 to $89.00 in a research note on Wednesday, October 30th. Citigroup lifted their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Barclays raised their price target on shares of DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group raised their target price on DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $80.44.

DT Midstream Stock Up 1.3 %

Shares of NYSE:DTM opened at $100.79 on Monday. The company has a market capitalization of $9.79 billion, a PE ratio of 24.52 and a beta of 0.71. DT Midstream, Inc. has a 1 year low of $51.17 and a 1 year high of $100.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The business has a fifty day moving average price of $85.39 and a two-hundred day moving average price of $75.93.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. The company had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period in the prior year, the firm posted $0.94 EPS. Analysts forecast that DT Midstream, Inc. will post 3.96 earnings per share for the current year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is currently 71.53%.

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.