Insider Buying: DT Midstream (NYSE:DTM) CFO Purchases 185 Shares of Stock

DT Midstream, Inc. (NYSE:DTM) CFO Jeffrey Jewell bought 185 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was bought at an average cost of $136.33 per share, with a total value of $25,221.05. Following the completion of the acquisition, the chief financial officer owned 89,583 shares of the company’s stock, valued at $12,212,850.39. This represents a 0.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

DT Midstream Price Performance

DTM traded up $0.19 during trading on Wednesday, reaching $137.36. 811,667 shares of the stock were exchanged, compared to its average volume of 808,942. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.45 and a beta of 0.77. DT Midstream, Inc. has a 1 year low of $83.30 and a 1 year high of $138.31. The business’s 50 day moving average price is $124.06 and its two-hundred day moving average price is $115.42.

DT Midstream (NYSE:DTM) last announced its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The business had revenue of $317.00 million for the quarter, compared to analyst estimates of $320.07 million. DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.During the same quarter in the previous year, the firm posted $0.94 EPS. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from DT Midstream’s previous quarterly dividend of $0.82. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.6%. DT Midstream’s dividend payout ratio is 81.67%.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Citigroup boosted their target price on shares of DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group boosted their price objective on shares of DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Morgan Stanley upped their price objective on shares of DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, February 10th. Bank of America lifted their target price on shares of DT Midstream from $118.00 to $132.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Mizuho increased their price target on DT Midstream from $108.00 to $129.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $136.18.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in shares of DT Midstream by 4.7% in the 4th quarter. Invesco Ltd. now owns 1,045,754 shares of the company’s stock valued at $125,156,000 after purchasing an additional 47,030 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of DT Midstream by 16.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 15,802 shares of the company’s stock worth $1,891,000 after buying an additional 2,249 shares during the period. Beacon Pointe Advisors LLC acquired a new position in DT Midstream in the fourth quarter valued at $318,000. First Citizens Bank & Trust Co. grew its position in DT Midstream by 2.2% during the fourth quarter. First Citizens Bank & Trust Co. now owns 14,454 shares of the company’s stock valued at $1,730,000 after acquiring an additional 310 shares during the period. Finally, NewEdge Advisors LLC increased its stake in DT Midstream by 5.7% during the fourth quarter. NewEdge Advisors LLC now owns 13,891 shares of the company’s stock worth $1,662,000 after acquiring an additional 748 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

DT Midstream Company Profile

DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.

The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.