Insider Buying: DT Midstream, Inc. (NYSE:DTM) CFO Purchases 170 Shares of Stock

DT Midstream, Inc. (NYSE:DTM - Get Free Report) CFO Jeffrey A. Jewell bought 170 shares of the firm's 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 transaction, the chief financial officer now directly owns 64,165 shares of the company's stock, valued at approximately $6,204,113.85. This represents a 0.27 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

DT Midstream Stock Performance

Shares of DT Midstream stock traded down $3.95 during midday trading on Thursday, hitting $89.67. The company had a trading volume of 1,094,883 shares, compared to its average volume of 737,315. DT Midstream, Inc. has a 1-year low of $57.16 and a 1-year high of $114.50. The business's 50 day simple moving average is $101.91 and its two-hundred day simple moving average is $93.63. The stock has a market cap of $9.09 billion, a PE ratio of 21.82 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.95 and a quick ratio of 0.95.

DT Midstream Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 3.66%. This is a positive change from DT Midstream's previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. DT Midstream's dividend payout ratio (DPR) is currently 91.11%.

Remove Ads

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in DT Midstream by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 10,553,782 shares of the company's stock worth $1,049,363,000 after buying an additional 359,017 shares in the last quarter. State Street Corp grew its holdings in shares of DT Midstream by 6.4% during the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company's stock worth $268,757,000 after purchasing an additional 202,447 shares in the last quarter. Deutsche Bank AG increased its position in shares of DT Midstream by 5.5% during the fourth quarter. Deutsche Bank AG now owns 2,831,830 shares of the company's stock valued at $281,569,000 after purchasing an additional 147,790 shares during the period. Geode Capital Management LLC raised its stake in shares of DT Midstream by 18.7% in the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company's stock valued at $243,948,000 after purchasing an additional 386,670 shares in the last quarter. Finally, Blackstone Inc. lifted its position in DT Midstream by 2,783.1% in the fourth quarter. Blackstone Inc. now owns 1,631,285 shares of the company's stock worth $162,199,000 after purchasing an additional 1,574,705 shares during the period. Institutional investors own 81.53% of the company's stock.

Wall Street Analyst Weigh In

DTM has been the subject of a number of recent research reports. Stifel Nicolaus decreased their price objective on shares of DT Midstream from $106.00 to $102.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Raymond James upped their price target on DT Midstream from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group raised their price objective on DT Midstream from $74.00 to $94.00 and gave the company a "sell" rating in a research note on Thursday, December 19th. Citigroup raised DT Midstream from a "neutral" rating to a "buy" rating and upped their target price for the stock from $90.00 to $115.00 in a research report on Thursday, November 21st. Finally, Wells Fargo & Company lowered their price target on DT Midstream from $118.00 to $108.00 and set an "overweight" rating on the stock in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.