Jeffrey A. Jewell Purchases 400 Shares of DT Midstream, Inc. (NYSE:DTM) Stock

DT Midstream, Inc. (NYSE:DTM) CFO Jeffrey A. Jewell acquired 400 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased 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 of the company’s stock, valued at $2,781,098. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

DT Midstream Stock Performance

NYSE DTM traded up $0.46 during trading on Tuesday, hitting $64.06. 784,255 shares of the company’s stock traded hands, compared to its average volume of 689,958. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 15.63 and a beta of 0.72. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.71 and a current ratio of 0.71. The business has a 50 day moving average of $60.82 and a 200-day moving average of $56.90. DT Midstream, Inc. has a 12-month low of $45.20 and a 12-month high of $64.69.

DT Midstream (NYSE:DTM) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share 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 analysts’ expectations 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 business earned $0.84 earnings per share. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Monday, June 17th will be issued a dividend of $0.735 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.59%. DT Midstream’s dividend payout ratio is 71.71%.

Analyst Ratings Changes

DTM has been the subject of several recent research reports. Stifel Nicolaus upped their price target on shares of DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Wolfe Research raised DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Barclays increased their price target on DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. US Capital Advisors lowered DT Midstream from an “overweight” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Mizuho upped their target price on DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, April 29th. Two investment 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.50.

Institutional Trading of DT Midstream

Several hedge funds have recently added to or reduced their stakes in the business. Independent Advisor Alliance purchased a new position in DT Midstream during the 3rd quarter valued at $270,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of DT Midstream by 28.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 20,012 shares of the company’s stock worth $1,059,000 after acquiring an additional 4,482 shares during the period. Mackenzie Financial Corp raised its position in shares of DT Midstream by 432.7% in the 3rd quarter. Mackenzie Financial Corp now owns 37,452 shares of the company’s stock worth $1,928,000 after acquiring an additional 30,421 shares in the last quarter. Advisor Partners II LLC boosted its position in shares of DT Midstream by 18.0% during the third quarter. Advisor Partners II LLC now owns 5,033 shares of the company’s stock valued at $266,000 after purchasing an additional 769 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in DT Midstream by 0.6% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 668,265 shares of the company’s stock worth $35,365,000 after purchasing an additional 3,740 shares during the period. 81.53% of the stock is owned by institutional investors.

DT Midstream Company Profile

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.