DT Midstream (NYSE:DTM) Reaches New 52-Week High Following Insider Buying Activity

DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high during trading on Thursday after an insider bought additional shares in the company. The company traded as high as $139.43 and last traded at $139.31, with a volume of 92411 shares trading hands. The stock had previously closed at $137.28.

Specifically, CFO Jeffrey A. Jewell acquired 185 shares of the company’s stock in a transaction on Wednesday, February 25th. The shares were bought at an average price 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 in the company, valued at $12,212,850.39. This trade represents a 0.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Analyst Ratings Changes

A number of analysts recently issued reports on DTM shares. Citigroup upped their target price on DT Midstream from $130.00 to $156.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley boosted their price objective on DT Midstream from $137.00 to $139.00 and gave the company an “underweight” rating in a research note on Tuesday, February 10th. Barclays raised their target price on shares of DT Midstream from $114.00 to $119.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $118.00 to $126.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. Finally, Jefferies Financial Group set a $148.00 price target on shares of DT Midstream and gave the company a “buy” rating in a research report on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $136.18.

DT Midstream Trading Up 0.8%

The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.68. The company’s fifty day moving average price is $124.85 and its two-hundred day moving average price is $115.73. The firm has a market cap of $14.08 billion, a PE ratio of 32.12, a P/E/G ratio of 2.44 and a beta of 0.77.

DT Midstream (NYSE:DTM) last announced its quarterly earnings data 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 firm had revenue of $317.00 million during the quarter, compared to analyst estimates of $320.07 million. During the same quarter in the previous year, the business earned $0.94 EPS. As a group, sell-side analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current fiscal year.

DT Midstream Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Monday, March 16th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from DT Midstream’s previous quarterly dividend of $0.82. The ex-dividend date is Monday, March 16th. DT Midstream’s dividend payout ratio (DPR) is presently 76.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DTM. V Square Quantitative Management LLC acquired a new stake in DT Midstream in the fourth quarter valued at $28,000. Richardson Financial Services Inc. increased its holdings in shares of DT Midstream by 62.7% in the 4th quarter. Richardson Financial Services Inc. now owns 244 shares of the company’s stock valued at $29,000 after purchasing an additional 94 shares in the last quarter. Mather Group LLC. acquired a new position in DT Midstream during the third quarter worth about $30,000. Centerpoint Advisors LLC increased its holdings 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 buying an additional 179 shares in the last quarter. Finally, First Horizon Corp acquired a new stake in shares of DT Midstream during the 3rd quarter valued at approximately $32,000. Institutional investors and hedge funds own 81.53% of the company’s stock.

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.