Insider Buying: DT Midstream, Inc. (NYSE:DTM) Director Acquires 5,000 Shares of Stock

DT Midstream, Inc. (NYSE:DTM – Get Rating) Director Peter I. Tumminello bought 5,000 shares of DT Midstream stock in a transaction dated Tuesday, May 23rd. The stock was acquired at an average price of $47.35 per share, for a total transaction of $236,750.00. Following the completion of the acquisition, the director now owns 9,888 shares in the company, valued at $468,196.80. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

DT Midstream Price Performance

Shares of NYSE DTM opened at $46.57 on Friday. DT Midstream, Inc. has a 52 week low of $45.10 and a 52 week high of $61.12. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 12.22 and a beta of 0.76. The firm has a 50-day simple moving average of $47.86 and a 200-day simple moving average of $52.40. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.73.

DT Midstream (NYSE:DTM – Get Rating) last announced its earnings results on Tuesday, May 2nd. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.08). The business had revenue of $220.00 million during the quarter, compared to analyst estimates of $238.44 million. DT Midstream had a net margin of 40.00% and a return on equity of 8.21%. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, equities analysts predict that DT Midstream, Inc. will post 3.51 earnings per share for the current fiscal year.

DT Midstream Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Monday, June 19th will be given a dividend of $0.69 per share. The ex-dividend date is Thursday, June 15th. This represents a $2.76 annualized dividend and a dividend yield of 5.93%. DT Midstream’s payout ratio is currently 72.44%.

Institutional Investors Weigh In On DT Midstream

A number of large investors have recently added to or reduced their stakes in DTM. JPMorgan Chase & Co. grew its stake in DT Midstream by 400.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,785,503 shares of the company’s stock valued at $88,150,000 after acquiring an additional 1,428,679 shares during the last quarter. Alliancebernstein L.P. grew its stake in DT Midstream by 681.9% in the 3rd quarter. Alliancebernstein L.P. now owns 1,157,862 shares of the company’s stock valued at $60,081,000 after acquiring an additional 1,009,786 shares during the last quarter. Norges Bank acquired a new stake in shares of DT Midstream during the 4th quarter worth about $54,899,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of DT Midstream during the 4th quarter worth about $45,832,000. Finally, Bank of America Corp DE boosted its stake in shares of DT Midstream by 249.8% during the 1st quarter. Bank of America Corp DE now owns 991,488 shares of the company’s stock worth $48,950,000 after purchasing an additional 708,035 shares during the last quarter. 78.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DTM shares. Morgan Stanley reduced their target price on shares of DT Midstream from $64.00 to $60.00 in a report on Tuesday, April 25th. Citigroup upgraded shares of DT Midstream from a “sell” rating to a “neutral” rating and set a $54.00 target price on the stock in a report on Thursday, February 23rd. Mizuho dropped their price target on shares of DT Midstream from $59.00 to $58.00 in a research note on Monday, May 1st. Wells Fargo & Company lowered their price objective on shares of DT Midstream from $62.00 to $55.00 in a research report on Monday, February 20th. Finally, TheStreet cut shares of DT Midstream from a “c” rating to a “d” rating in a research report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, DT Midstream has an average rating of “Hold” and an average target price of $57.17.

DT Midstream Company Profile

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DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.