DT Midstream (NYSE:DTM) Hits New 12-Month High After Insider Buying Activity

Shares of DT Midstream, Inc. (NYSE:DTM) 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 changing hands. The stock had previously closed at $64.06.

Specifically, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares in the company, valued at approximately $2,120,625.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other DT Midstream news, CFO Jeffrey A. Jewell bought 400 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the transaction, the chief financial officer now owns 44,285 shares in the company, valued at approximately $2,781,098. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Skaggs, Jr. bought 1,000 shares of the stock in a transaction dated Monday, February 26th. The shares were acquired at an average price of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now owns 37,289 shares of the company’s stock, valued at approximately $2,120,625.43. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on DTM. Barclays lifted their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Mizuho lifted their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, April 29th. US Capital Advisors lowered shares of DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Stifel Nicolaus lifted their price objective 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. Finally, Wolfe Research upgraded shares of DT Midstream from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, February 20th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, DT Midstream currently has an average rating of “Hold” and an average target price of $61.50.

DT Midstream Trading Up 0.1 %

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $60.97 and a 200 day simple moving average of $56.96. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 15.64 and a beta of 0.72.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. The business 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 previous year, the company posted $0.84 EPS. On average, equities analysts anticipate that DT Midstream, Inc. will post 3.93 EPS for the current fiscal year.

DT Midstream Dividend Announcement

The company also recently declared 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. This represents a $2.94 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Friday, June 14th. DT Midstream’s dividend payout ratio (DPR) is presently 71.71%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DTM. First Trust Advisors LP raised its stake in shares of DT Midstream by 284.6% during the 4th quarter. First Trust Advisors LP now owns 1,524,401 shares of the company’s stock worth $83,537,000 after buying an additional 1,128,056 shares during the last quarter. Norges Bank acquired a new position in shares of DT Midstream during the 4th quarter worth $61,638,000. HITE Hedge Asset Management LLC acquired a new position in shares of DT Midstream during the 4th quarter worth $47,462,000. Deutsche Bank AG raised its stake in shares of DT Midstream by 1,176.7% during the 3rd quarter. Deutsche Bank AG now owns 867,145 shares of the company’s stock worth $45,889,000 after buying an additional 799,224 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in DT Midstream by 8.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,401,572 shares of the company’s stock valued at $186,407,000 after purchasing an additional 266,433 shares during the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.