DT Midstream (NYSE:DTM) Reaches New 1-Year High on Insider Buying Activity

DT Midstream, Inc. (NYSE:DTM) shares reached a new 52-week high during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $64.70 and last traded at $64.54, with a volume of 160808 shares trading hands. The stock had previously closed at $64.06.

Specifically, CFO Jeffrey A. Jewell acquired 400 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $62.80 per share, with a total value of $25,120.00. Following the transaction, the chief financial officer now directly owns 44,285 shares of the company’s stock, valued at $2,781,098. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Jeffrey A. Jewell purchased 400 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average cost of $62.80 per share, with a total value of $25,120.00. Following the completion of the transaction, the chief financial officer now directly owns 44,285 shares of the company’s stock, valued at $2,781,098. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert C. Skaggs, Jr. acquired 1,000 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the transaction, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

DTM has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on shares of DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. US Capital Advisors lowered shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Barclays raised their price objective on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Finally, Mizuho lifted their target price on shares of DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.50.

DT Midstream Price Performance

The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $6.26 billion, a P/E ratio of 15.62 and a beta of 0.72. The stock has a 50 day moving average of $60.97 and a 200-day moving average of $56.96.

DT Midstream (NYSE:DTM) last issued its earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $240.00 million during the quarter, compared to analyst estimates of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same period in the previous year, the company posted $0.84 EPS. On average, equities research analysts anticipate that DT Midstream, Inc. will post 3.93 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, June 17th will be given a dividend of $0.735 per share. This represents a $2.94 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Friday, June 14th. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Institutional Investors Weigh In On DT Midstream

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Wetzel Investment Advisors Inc. bought a new position in shares of DT Midstream in the 4th quarter worth $25,000. HHM Wealth Advisors LLC purchased a new position in DT Midstream during the 4th quarter worth $25,000. Mather Group LLC. purchased a new position in DT Midstream during the 1st quarter worth $29,000. ICA Group Wealth Management LLC purchased a new position in DT Midstream during the 4th quarter worth $32,000. Finally, Burkett Financial Services LLC purchased a new position in DT Midstream during the 4th quarter worth $42,000. 81.53% of the stock is owned by institutional investors.

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.