Insider Buying: DT Midstream (NYSE:DTM) CFO Purchases $25,221.05 in Stock

DT Midstream, Inc. (NYSE:DTM) CFO Jeffrey Jewell purchased 185 shares of DT Midstream stock in a transaction dated Wednesday, February 25th. The stock was acquired 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 directly owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

DT Midstream Trading Up 0.1%

Shares of DTM stock opened at $138.72 on Friday. The business’s fifty day moving average price is $125.26 and its 200 day moving average price is $115.97. The firm has a market capitalization of $14.11 billion, a PE ratio of 32.19, a P/E/G ratio of 2.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $139.96.

DT Midstream (NYSE:DTM) last released its earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. The business had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same period last year, the business posted $0.94 EPS. As a group, sell-side analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal 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 issued a dividend of $0.88 per share. 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 yield of 2.5%. The ex-dividend date of this dividend is Monday, March 16th. DT Midstream’s payout ratio is presently 81.67%.

Institutional Trading of DT Midstream

A number of hedge funds have recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in DT Midstream in the 4th quarter valued at $28,000. Richardson Financial Services Inc. boosted its holdings in shares of DT Midstream by 62.7% during the fourth quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock worth $29,000 after purchasing an additional 94 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of DT Midstream in the third quarter valued at $30,000. Centerpoint Advisors LLC increased its stake in DT Midstream by 198.9% in the third quarter. Centerpoint Advisors LLC now owns 269 shares of the company’s stock valued at $30,000 after purchasing an additional 179 shares during the last quarter. Finally, First Horizon Corp purchased a new position in DT Midstream during the third quarter worth about $32,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

DTM has been the subject of a number of research reports. Wells Fargo & Company reiterated an “overweight” rating and set a $150.00 price target on shares of DT Midstream in a research report on Sunday, February 22nd. UBS Group raised their price objective on DT Midstream from $128.00 to $152.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Morgan Stanley boosted their target price on DT Midstream from $137.00 to $139.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 10th. Mizuho upped their target price on DT Midstream from $108.00 to $129.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lifted their price target on DT Midstream from $118.00 to $126.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Six investment 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $136.18.

About DT Midstream

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.