Legacy Wealth Asset Management LLC Has $509,000 Stock Holdings in DT Midstream, Inc. $DTM

Legacy Wealth Asset Management LLC raised its position in DT Midstream, Inc. (NYSE:DTM) by 42.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,635 shares of the company’s stock after purchasing 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 Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DTM. Wealth Enhancement Advisory Services LLC grew its holdings in DT Midstream by 6.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,642 shares of the company’s stock valued at $1,220,000 after buying an additional 812 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in DT Midstream by 59.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 16,848 shares of the company’s stock valued at $1,626,000 after buying an additional 6,271 shares in the last quarter. Blue Trust Inc. grew its holdings in DT Midstream by 38.9% in the 1st quarter. Blue Trust Inc. now owns 1,547 shares of the company’s stock valued at $149,000 after buying an additional 433 shares in the last quarter. Bessemer Group Inc. grew its holdings in DT Midstream by 44.0% in the 1st quarter. Bessemer Group Inc. now owns 442 shares of the company’s stock valued at $43,000 after buying an additional 135 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in DT Midstream in the 1st quarter valued at $26,000. 81.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DT Midstream

In other DT Midstream news, VP Melissa Cox sold 4,755 shares of DT Midstream stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president owned 5,171 shares in the company, valued at $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.34% of the stock is currently owned by corporate insiders.

DT Midstream Stock Performance

DT Midstream stock opened at $108.65 on Wednesday. DT Midstream, Inc. has a 12-month low of $83.30 and a 12-month high of $115.80. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $107.54 and its two-hundred day moving average price is $103.90. The stock has a market cap of $11.04 billion, a PE ratio of 29.13, a P/E/G ratio of 2.40 and a beta of 0.78.

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

DT Midstream Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on DTM. Morgan Stanley raised their price target on DT Midstream from $113.00 to $118.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 6th. Barclays raised their target price on shares of DT Midstream from $103.00 to $114.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on shares of DT Midstream from $108.00 to $117.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on shares of DT Midstream from $114.00 to $118.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Finally, Stifel Nicolaus set a $119.00 price objective on shares of DT Midstream in a research report on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.08.

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.