Oppenheimer Asset Management Inc. Sells 492 Shares of DT Midstream, Inc. (NYSE:DTM)

Oppenheimer Asset Management Inc. trimmed its stake in shares of DT Midstream, Inc. (NYSE:DTM) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,079 shares of the company’s stock after selling 492 shares during the period. Oppenheimer Asset Management Inc.’s holdings in DT Midstream were worth $645,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of DT Midstream by 284.6% during the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after purchasing an additional 1,128,056 shares during the period. Norges Bank bought a new stake in DT Midstream during the fourth quarter valued at approximately $61,638,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in DT Midstream by 14.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 809,126 shares of the company’s stock valued at $49,438,000 after buying an additional 99,755 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in DT Midstream in the second quarter worth approximately $6,309,000. Finally, Tortoise Capital Advisors L.L.C. boosted its stake in shares of DT Midstream by 6.3% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 1,024,036 shares of the company’s stock worth $72,737,000 after acquiring an additional 60,370 shares during the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Price Performance

Shares of NYSE:DTM opened at $77.82 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of 18.98 and a beta of 0.74. The firm has a fifty day moving average price of $74.87 and a 200 day moving average price of $68.19. DT Midstream, Inc. has a fifty-two week low of $50.88 and a fifty-two week high of $78.83.

DT Midstream (NYSE:DTM) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. The firm had revenue of $244.00 million during the quarter, compared to analyst estimates of $236.83 million. During the same quarter last year, the business posted $0.93 earnings per share. As a group, sell-side analysts expect that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 16th will be paid a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Monday, September 16th. DT Midstream’s payout ratio is 71.71%.

Wall Street Analysts Forecast Growth

DTM has been the subject of several analyst reports. Barclays upped their price objective on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 17th. Stifel Nicolaus lifted their price objective on DT Midstream from $70.00 to $78.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of DT Midstream from $77.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $75.00 to $78.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Citigroup increased their price objective on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.75.

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.