Oppenheimer Asset Management Inc. Has $641,000 Stake in DT Midstream, Inc. (NYSE:DTM)

Oppenheimer Asset Management Inc. trimmed its stake in DT Midstream, Inc. (NYSE:DTM) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,151 shares of the company’s stock after selling 928 shares during the period. Oppenheimer Asset Management Inc.’s holdings in DT Midstream were worth $641,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in shares of DT Midstream by 151.8% in the 3rd quarter. Victory Capital Management Inc. now owns 113,374 shares of the company’s stock worth $8,918,000 after acquiring an additional 68,350 shares in the last quarter. GSA Capital Partners LLP raised its position in DT Midstream by 31.9% in the 3rd quarter. GSA Capital Partners LLP now owns 27,209 shares of the company’s stock valued at $2,140,000 after purchasing an additional 6,575 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in DT Midstream in the third quarter worth $56,000. Crossmark Global Holdings Inc. grew its holdings in shares of DT Midstream by 18.9% during the third quarter. Crossmark Global Holdings Inc. now owns 9,138 shares of the company’s stock worth $719,000 after purchasing an additional 1,452 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of DT Midstream by 65.0% in the third quarter. Covestor Ltd now owns 3,160 shares of the company’s stock valued at $248,000 after buying an additional 1,245 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

DT Midstream Stock Up 1.0 %

Shares of DT Midstream stock opened at $103.01 on Wednesday. The business has a fifty day simple moving average of $86.50 and a 200 day simple moving average of $76.49. The stock has a market cap of $10.01 billion, a PE ratio of 25.06 and a beta of 0.71. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61. DT Midstream, Inc. has a 12 month low of $51.17 and a 12 month high of $103.51.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05). The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.31% and a net margin of 41.19%. During the same quarter in the previous year, the firm posted $0.94 earnings per share. Research analysts predict that DT Midstream, Inc. will post 3.96 EPS for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be paid a $0.735 dividend. This represents a $2.94 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Monday, December 16th. DT Midstream’s payout ratio is presently 71.53%.

Wall Street Analysts Forecast Growth

DTM has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and increased their price target for the company from $78.00 to $89.00 in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price target on shares of DT Midstream from $66.00 to $74.00 and gave the company a “sell” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, October 4th. Finally, Barclays lifted their target price on DT Midstream from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DT Midstream currently has a consensus rating of “Hold” and a consensus price target of $80.44.

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.