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

DT Midstream, Inc. (NYSE:DTM) CFO Jeffrey A. Jewell acquired 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 acquisition, the chief financial officer now owns 64,165 shares of the company’s stock, valued at $6,204,113.85. This trade represents a 0.27 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

DT Midstream Stock Down 1.4 %

Shares of DT Midstream stock opened at $93.30 on Wednesday. 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, Inc. has a 1-year low of $57.16 and a 1-year high of $114.50. The business’s fifty day moving average price is $102.31 and its two-hundred day moving average price is $93.66. The company has a market capitalization of $9.46 billion, a P/E ratio of 22.70 and a beta of 0.79.

DT Midstream Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be paid a dividend of $0.82 per share. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Monday, March 17th. DT Midstream’s payout ratio is currently 91.11%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Stifel Nicolaus decreased their price target 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 lifted their target price on DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group upped their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Barclays assumed coverage on DT Midstream in a report on Friday, January 10th. They issued an “equal weight” rating and a $112.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $102.00.

Institutional Investors Weigh In On DT Midstream

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of DT Midstream by 3.5% during the 4th 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 boosted its holdings in shares of DT Midstream by 6.4% in the third quarter. State Street Corp now owns 3,385,579 shares of the company’s stock valued at $268,757,000 after acquiring an additional 202,447 shares in the last quarter. Deutsche Bank AG increased its stake 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 acquiring an additional 147,790 shares during the period. Geode Capital Management LLC raised its holdings in DT Midstream by 18.7% during the fourth quarter. Geode Capital Management LLC now owns 2,452,948 shares of the company’s stock worth $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 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.