Legacy Wealth Asset Management LLC Purchases 1,372 Shares of DT Midstream, Inc. $DTM

Legacy Wealth Asset Management LLC raised its position in DT Midstream, Inc. (NYSE:DTM) by 42.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,635 shares of the company’s stock after acquiring an additional 1,372 shares during the period. Legacy Wealth Asset Management LLC’s holdings in DT Midstream were worth $509,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in DT Midstream by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 11,174,965 shares of the company’s stock valued at $1,078,161,000 after acquiring an additional 621,183 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its stake in DT Midstream by 21.8% in the 1st quarter. Tortoise Capital Advisors L.L.C. now owns 1,582,833 shares of the company’s stock valued at $152,712,000 after acquiring an additional 282,870 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in DT Midstream by 11.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,236,800 shares of the company’s stock valued at $119,326,000 after acquiring an additional 131,138 shares in the last quarter. Northern Trust Corp lifted its stake in DT Midstream by 8.9% in the 1st quarter. Northern Trust Corp now owns 1,156,867 shares of the company’s stock valued at $111,615,000 after acquiring an additional 94,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in DT Midstream by 0.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,148,324 shares of the company’s stock valued at $110,790,000 after acquiring an additional 5,218 shares in the last quarter. Institutional investors own 81.53% of the company’s stock.

DT Midstream Stock Down 1.2%

DTM stock opened at $108.65 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $11.04 billion, a PE ratio of 29.13, a PEG ratio of 2.40 and a beta of 0.78. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $115.80. The business’s 50 day simple moving average is $107.54 and its 200 day simple moving average is $103.90.

DT Midstream (NYSE:DTM) last posted its earnings results on Thursday, July 31st. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The business had revenue of $299.00 million for the quarter, compared to analyst estimates of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%.During the same period in the previous year, the firm earned $0.98 EPS. DT Midstream has set its FY 2025 guidance at 4.050-4.450 EPS. As a group, research analysts anticipate that DT Midstream, Inc. will post 3.8 EPS for the current year.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 15th were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.0%. DT Midstream’s payout ratio is presently 87.94%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DTM. Mizuho upped their price objective on DT Midstream from $105.00 to $108.00 and gave the stock a “neutral” rating in a research note on Friday, August 29th. Citigroup upped their price objective on DT Midstream from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Wells Fargo & Company upped their price objective on DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Barclays upped their price objective on DT Midstream from $103.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of DT Midstream in a research note on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $115.08.

Insider Buying and Selling at DT Midstream

In related news, VP Melissa Cox sold 4,755 shares of the business’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $104.47, for a total transaction of $496,754.85. Following the transaction, the vice president directly owned 5,171 shares of the company’s stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

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.