DT Midstream (NYSE:DTM) Hits New 52-Week High After Insider Buying Activity

DT Midstream, Inc. (NYSE:DTM)’s stock price reached a new 52-week high during trading on Wednesday following insider buying activity. 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 bought 400 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the transaction, the chief financial officer now owns 44,285 shares of the company’s stock, valued at approximately $2,781,098. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Jeffrey A. Jewell purchased 400 shares of the stock in a transaction dated Friday, May 3rd. The stock was bought at an average cost of $62.80 per share, with a total value of $25,120.00. Following the purchase, the chief financial officer now directly owns 44,285 shares in the company, valued at approximately $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Skaggs, Jr. acquired 1,000 shares of DT Midstream stock in a transaction that occurred on Monday, February 26th. The shares were purchased at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the purchase, the director now directly owns 37,289 shares in the company, valued at $2,120,625.43. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

DTM has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on DT Midstream from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, February 20th. US Capital Advisors lowered shares of DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Barclays upped their price target on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, Mizuho raised their price objective 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 investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.50.

DT Midstream Trading Up 1.8 %

The business has a 50-day moving average of $61.26 and a 200-day moving average of $57.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 15.93 and a beta of 0.72.

DT Midstream (NYSE:DTM) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.95 by $0.04. The company had revenue of $240.00 million during the quarter, compared to the consensus estimate of $242.62 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same quarter in the prior year, the firm posted $0.84 EPS. Research analysts anticipate that DT Midstream, Inc. will post 3.93 EPS for the current year.

DT Midstream Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a dividend of $0.735 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.94 annualized dividend and a dividend yield of 4.50%. DT Midstream’s dividend payout ratio is presently 71.71%.

Institutional Investors Weigh In On DT Midstream

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mariner LLC raised its stake in DT Midstream by 10.6% in the third quarter. Mariner LLC now owns 20,790 shares of the company’s stock valued at $1,100,000 after buying an additional 1,985 shares during the period. JPMorgan Chase & Co. lifted its holdings in DT Midstream by 2.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,931,337 shares of the company’s stock valued at $102,960,000 after purchasing an additional 39,059 shares during the last quarter. Comerica Bank boosted its position in DT Midstream by 11,073.2% during the third quarter. Comerica Bank now owns 86,257 shares of the company’s stock worth $4,565,000 after purchasing an additional 85,485 shares during the period. Whittier Trust Co. increased its holdings in shares of DT Midstream by 175.0% in the fourth quarter. Whittier Trust Co. now owns 1,672 shares of the company’s stock valued at $92,000 after purchasing an additional 1,064 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of DT Midstream in the fourth quarter valued at $52,000. 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.