Oppenheimer Asset Management Inc. sell 492 shares of DT Midstream, Inc. (NYSE:DTM)

VaselineSeptember 21, 2024

0 3 minutes read

Oppenheimer Asset Management Inc. reduced its stake in shares of DT Midstream, Inc. (NYSE:DTM – Free Report) by 5.1% in the second quarter, according to its most recent disclosure 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 filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in shares of DT Midstream by 284.6% during the fourth quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock valued at $83,537,000 after buying 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. boosted its holdings in DT Midstream by 14.1% in 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 in the last quarter. Los Angeles Capital Management LLC bought a new position in DT Midstream in the second quarter valued at about $6,309,000. Finally, Tortoise Capital Advisors LLC raised its stake in shares of DT Midstream by 6.3% during the second quarter. Tortoise Capital Advisors LLC now owns 1,024,036 shares of the company’s stock worth $72,737,000 after purchasing an additional 60,370 shares in the last quarter. Institutional investors own 81.53% of the company’s shares.

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. it has a fifty-two week low of $50.88 and a fifty-two week high of $78.83.

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DT Midstream (NYSE:DTM – Get Your Free Report ) last posted 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. In the same quarter last year, the company posted earnings of $0.93 per share. As a group, sell-side analysts expect DT Midstream, Inc. to 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. Stockholders of record on Monday, September 16th will be paid a $0.735 dividend. This represents a dividend of $2.94 on an annualized basis and a yield of 3.78%. The ex-dividend date is Monday, September 16. DT Midstream’s payout ratio is 71.71%.

Analysts on Wall Street are forecasting an increase

DTM has been the subject of several analyst reports. Barclays boosted 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 raised 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 upped 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. raised their target price 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 boosted 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 assigned 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.

Check out our latest research report on DTM

DT Midstream Company Profile

(Free Report)

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 laterals.