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

Oppenheimer Asset Management Inc. trimmed its position in shares of DT Midstream, Inc. (NYSE:DTM) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and 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 SEC filing.

A number of other institutional investors also recently modified their holdings of DTM. Wealthspire Advisors LLC purchased a new stake in DT Midstream in the 2nd quarter worth approximately $262,000. Parallel Advisors LLC raised its holdings in shares of DT Midstream by 137.0% during the second quarter. Parallel Advisors LLC now owns 4,609 shares of the company’s stock valued at $327,000 after acquiring an additional 2,664 shares in the last quarter. CoreCap Advisors LLC bought a new position in shares of DT Midstream during the second quarter valued at approximately $1,010,000. Federated Hermes Inc. boosted its holdings in DT Midstream by 19.3% in the second quarter. Federated Hermes Inc. now owns 9,819 shares of the company’s stock valued at $697,000 after acquiring an additional 1,590 shares in the last quarter. Finally, Qsemble Capital Management LP boosted its holdings in DT Midstream by 426.6% in the second quarter. Qsemble Capital Management LP now owns 25,100 shares of the company’s stock valued at $1,783,000 after acquiring an additional 20,334 shares in the last quarter. 81.53% of the stock is currently owned by hedge funds and other institutional investors.

DT Midstream Trading Up 1.6 %

DT Midstream stock opened at $77.82 on Friday. DT Midstream, Inc. has a 12 month low of $50.88 and a 12 month high of $78.83. The company has a market capitalization of $7.56 billion, a price-to-earnings ratio of 18.98 and a beta of 0.74. The business’s fifty day simple moving average is $74.87 and its two-hundred day simple moving average is $68.19. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. During the same quarter in the previous year, the business posted $0.93 EPS. As a group, equities analysts predict that DT Midstream, Inc. will post 3.96 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

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

Wall Street Analyst Weigh In

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

About DT Midstream

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.