Insider Buying: DT Midstream, Inc. (NYSE:DTM) CFO Acquires $16,437.30 in Stock

DT Midstream, Inc. (NYSE:DTM) CFO Jeffrey A. Jewell purchased 170 shares of the stock in a transaction on Monday, March 3rd. The stock was acquired at an average cost of $96.69 per share, with a total value of $16,437.30. Following the completion of the purchase, the chief financial officer now directly owns 64,165 shares of the company’s stock, valued at $6,204,113.85. The trade was a 0.27 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

DT Midstream Price Performance

Shares of NYSE DTM opened at $93.65 on Thursday. DT Midstream, Inc. has a 1 year low of $57.16 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95. The company’s 50-day moving average is $102.13 and its 200 day moving average is $93.66. The stock has a market capitalization of $9.49 billion, a P/E ratio of 22.79 and a beta of 0.79.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 annualized dividend and a dividend yield of 3.50%. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s payout ratio is currently 91.11%.

Hedge Funds Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new stake in DT Midstream in the third quarter worth about $29,000. Bessemer Group Inc. increased its stake in shares of DT Midstream by 61.6% during the fourth quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. AdvisorNet Financial Inc increased its stake in shares of DT Midstream by 106.7% during the fourth quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock valued at $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC increased its stake in shares of DT Midstream by 93.7% during the fourth quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock valued at $34,000 after purchasing an additional 163 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of DT Midstream during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on DTM. JPMorgan Chase & Co. upped their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Stifel Nicolaus lowered their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company lowered their price objective on shares of DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Citigroup raised shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price objective for the company from $90.00 to $115.00 in a research note on Thursday, November 21st. Finally, Barclays began coverage on shares of DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $102.00.

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.