DTE Energy split off a new company, DT Midstream

g70quail

My DTE stock got me 250 shares of the new DT Midstream company, but I have not been able to add this new company to my investment portfolio. How can I add DT Midstream to my portfolio in Quicken? I have received dividend checks from DT Midstream.

Frankx

Hi @g70quail,

The spin-off of DT Midstream (from DTE Energy) took place on 7/1/2021. It was a "1 share of DTM for every 2 shares of DTE" that were held by DTE shareholders as of the close of business on 6/18/2021. 

To record the spin-off in Quicken, I suggest that you use the "Corporate Securities Spin-Off" type of transaction.  You will need to gather some data before you record the transaction in Quicken.  Here's a Snip of the transaction window that you'll use in Quicken.  I filled-in the company names, circled the data you'll need to look-up and highlighted the description of the data.



A couple of suggestions:

• Before you start backup your Quicken in case you have any issues and need to start over. 

• The transaction will cause a portion of the "cost of your original purchase of DTE" to be spread over the new shares of DTM.  If you have numerous transactions related to DTE reinvestments of dividends, that process may take a few minutes - but do not try to stop the process, just let it run until it stops.

Let me know if you have any followups.

Frankx

q_lurker

Since you have received dividends from the DTMidstream security, that security likely already exists in your file. Therefore you cannot spin-off that same security now.  I would spin-off DTX. Then edit the new generated transactions to refer to your current DT Midstream security. After those edits, delete the DTX version from your security list. 

One other note - if you have more than one lot of DTE, the current Quicken will not produce the right basis for your DTE shares after the spin-off. They may be close. If “right” is important, post back and we can talk about possibilities.