Oppenheimer & Co. Inc. Trims Stock Position in DT Midstream, Inc. (NYSE:DTM)

Oppenheimer & Co. Inc. lessened its stake in shares of DT Midstream, Inc. (NYSE:DTM - Free Report) by 50.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,239 shares of the company's stock after selling 3,248 shares during the period. Oppenheimer & Co. Inc.'s holdings in DT Midstream were worth $312,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of DTM. True Link Financial Advisors LLC purchased a new stake in shares of DT Midstream during the 1st quarter worth $238,000. Thrivent Financial for Lutherans raised its holdings 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 lifted its position in shares of DT Midstream by 82.0% during the fourth quarter. Atria Investments Inc now owns 15,412 shares of the company's stock valued at $1,532,000 after buying an additional 6,946 shares during the last quarter. M1 Capital Management LLC purchased a new stake in shares of DT Midstream during the fourth quarter valued at about $404,000. Finally, Blackstone Inc. boosted its holdings 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 buying an additional 1,574,705 shares in the last quarter. Hedge funds and other institutional investors own 81.53% of the company's stock.

DT Midstream Stock Performance

Shares of NYSE DTM traded up $0.17 during mid-day trading on Thursday, hitting $105.94. The stock had a trading volume of 451,802 shares, compared to its average volume of 904,784. The firm has a market cap of $10.76 billion, a PE ratio of 28.87, a PEG ratio of 1.67 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.82 and a current ratio of 0.82. The company has a 50 day moving average of $104.01 and a two-hundred day moving average of $100.68. DT Midstream, Inc. has a twelve month low of $68.88 and a twelve month high of $114.50.

DT Midstream (NYSE:DTM - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $285.48 million. DT Midstream had a net margin of 34.96% and a return on equity of 8.46%. During the same quarter in the previous year, the firm posted $0.99 EPS. Research analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 16th will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $3.28 dividend on an annualized basis and a yield of 3.10%. DT Midstream's dividend payout ratio is currently 89.37%.

Analyst Ratings Changes

Several research firms recently commented on DTM. Bank of America started coverage on shares of DT Midstream in a research note on Monday, March 24th. They set a "buy" rating and a $110.00 price objective for the company. US Capital Advisors lowered shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Morgan Stanley set a $115.00 price target on DT Midstream and gave the stock an "underweight" rating in a research report on Tuesday, June 3rd. UBS Group raised their price objective on DT Midstream from $102.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Barclays boosted their target price on DT Midstream from $102.00 to $103.00 and gave the stock 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 issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $109.27.

DT Midstream 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.