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

Oppenheimer & Co. Inc. lowered its holdings in DT Midstream, Inc. (NYSE:DTM - Free Report) by 50.1% in the first 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 reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its position in shares of DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company's stock valued at $76,000 after purchasing an additional 100 shares during the last quarter. Lakeshore Financial Planning Inc. increased its position in shares of DT Midstream by 4.2% in the 4th quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company's stock valued at $285,000 after purchasing an additional 116 shares during the last quarter. Bessemer Group Inc. increased its position in shares of DT Midstream by 61.6% in the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Larson Financial Group LLC increased its position in shares of DT Midstream by 21.1% in the 4th quarter. Larson Financial Group LLC now owns 683 shares of the company's stock valued at $68,000 after purchasing an additional 119 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its position in shares of DT Midstream by 0.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 41,871 shares of the company's stock valued at $4,163,000 after purchasing an additional 137 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company's stock.

DT Midstream Stock Performance

DT Midstream stock traded up $0.17 during trading hours on Friday, reaching $105.94. 451,802 shares of the stock were exchanged, compared to its average volume of 906,706. The stock has a market cap of $10.76 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.69 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. DT Midstream, Inc. has a 52-week low of $68.88 and a 52-week high of $114.50. The firm's 50 day moving average is $104.30 and its 200 day moving average is $100.81.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $1.06 EPS for the quarter, missing analysts' consensus estimates 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 return on equity of 8.46% and a net margin of 34.96%. During the same quarter in the previous year, the company posted $0.99 EPS. Analysts predict that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be issued 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 dividend yield of 3.10%. DT Midstream's dividend payout ratio is presently 89.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on DTM shares. Williams Trading set a $110.00 price objective on shares of DT Midstream in a research report on Monday, March 24th. Bank of America started coverage on shares of DT Midstream in a report on Monday, March 24th. They issued a "buy" rating and a $110.00 target price for the company. Barclays upped their target price on shares of DT Midstream from $102.00 to $103.00 and gave the company an "equal weight" rating in a report on Tuesday, May 20th. UBS Group upped their target price on shares of DT Midstream from $102.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, March 27th. Finally, US Capital Advisors cut shares of DT Midstream from a "moderate buy" rating to a "hold" rating in a report on Monday, April 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, DT Midstream has an average rating of "Hold" and an average price target of $109.27.

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.