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

DT Midstream, Inc. (NYSE:DTM) reached a new 52-week high during mid-day trading on Thursday following insider buying activity. The stock 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 bought 185 shares of DT Midstream stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $136.33 per share, with a total value of $25,221.05. Following the transaction, the chief financial officer directly owned 89,583 shares of the company’s stock, valued at approximately $12,212,850.39. The trade was a 0.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $150.00 price target on shares of DT Midstream in a report on Sunday. Citigroup raised their target price on DT Midstream from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays upped their price target on DT Midstream from $114.00 to $119.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 14th. Stifel Nicolaus set a $137.00 price target on DT Midstream and gave the stock a “hold” rating in a research note on Monday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of DT Midstream in a report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $136.18.

DT Midstream Stock Up 1.6%

The company’s 50 day simple moving average is $124.44 and its 200-day simple moving average is $115.57. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $14.19 billion, a PE ratio of 32.32, a PEG ratio of 2.44 and a beta of 0.77.

DT Midstream (NYSE:DTM) last released its quarterly earnings results on Thursday, February 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.03). The firm had revenue of $317.00 million for the quarter, compared to analysts’ expectations of $320.07 million. DT Midstream had a net margin of 35.48% and a return on equity of 9.13%. During the same quarter last year, the firm earned $0.94 earnings per share. On average, analysts forecast that DT Midstream, Inc. will post 3.8 EPS for the current fiscal year.

DT Midstream Increases Dividend

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

Hedge Funds Weigh In On DT Midstream

A number of institutional investors have recently added to or reduced their stakes in DTM. NewEdge Wealth LLC boosted its position in shares of DT Midstream by 2.4% during the 4th quarter. NewEdge Wealth LLC now owns 3,613 shares of the company’s stock valued at $432,000 after acquiring an additional 85 shares during the last quarter. Covestor Ltd increased its position in shares of DT Midstream by 11.2% in the fourth quarter. Covestor Ltd now owns 897 shares of the company’s stock worth $107,000 after purchasing an additional 90 shares during the last quarter. Richardson Financial Services Inc. raised its stake in DT Midstream by 62.7% in the fourth 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. VestGen Investment Management lifted its position in DT Midstream by 1.2% during the fourth quarter. VestGen Investment Management now owns 7,698 shares of the company’s stock valued at $921,000 after purchasing an additional 94 shares during the last quarter. Finally, Pathstone Holdings LLC lifted its position in DT Midstream by 0.3% during the third quarter. Pathstone Holdings LLC now owns 28,322 shares of the company’s stock valued at $3,215,000 after purchasing an additional 97 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors.

DT Midstream Company Profile

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.