DT Midstream, Inc. (NYSE:DTM) VP Melissa Cox Sells 4,755 Shares

Key Points

• Melissa Cox, VP of DT Midstream, sold 4,755 shares of the company's stock at an average price of $104.47, resulting in a total sale value of approximately $496,754, representing a 47.90% decrease in her ownership.
• DT Midstream announced a quarterly dividend of $0.82 per share, yielding 3.2%, which will be paid on October 15th to stockholders of record as of September 15th.
• Research analysts have adjusted their price targets for DT Midstream, with a consensus price target of $110.91 and varying ratings from "buy" to "hold" across several firms.

DT Midstream, Inc. (NYSE:DTM - Get Free Report) VP Melissa Cox sold 4,755 shares of the company's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $104.47, for a total value of $496,754.85. Following the transaction, the vice president owned 5,171 shares of the company's stock, valued at approximately $540,214.37. The trade was a 47.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DT Midstream Price Performance

Shares of DT Midstream stock traded down $0.88 during midday trading on Tuesday, hitting $103.42. 660,764 shares of the company were exchanged, compared to its average volume of 1,016,296. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $10.51 billion, a P/E ratio of 27.73, a PEG ratio of 1.91 and a beta of 0.77. DT Midstream, Inc. has a 52 week low of $71.97 and a 52 week high of $114.50. The firm has a 50 day simple moving average of $104.54 and a 200-day simple moving average of $100.34.

DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.98 by $0.06. The business had revenue of $299.00 million during the quarter, compared to the consensus estimate of $295.70 million. DT Midstream had a return on equity of 8.48% and a net margin of 33.90%. During the same quarter last year, the company earned $0.98 EPS. Research analysts forecast that DT Midstream, Inc. will post 3.8 earnings per share for the current year.

DT Midstream Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, September 15th. DT Midstream's dividend payout ratio (DPR) is 87.94%.

Analysts Set New Price Targets

A number of research analysts recently commented on DTM shares. Stifel Nicolaus upped their price objective on DT Midstream from $102.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Wells Fargo & Company upped their price objective on DT Midstream from $108.00 to $117.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. US Capital Advisors lowered DT Midstream from a "moderate buy" rating to a "hold" rating in a research report on Monday, April 28th. Barclays boosted their price target on DT Midstream from $102.00 to $103.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 20th. Finally, Morgan Stanley boosted their price target on DT Midstream from $113.00 to $118.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, DT Midstream currently has an average rating of "Hold" and a consensus price target of $110.91.

Institutional Investors Weigh In On DT Midstream

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. grew its stake in shares of DT Midstream by 34.3% during the second quarter. Prudential Financial Inc. now owns 13,283 shares of the company's stock worth $1,460,000 after purchasing an additional 3,391 shares during the period. Covalis Capital LLP lifted its holdings in DT Midstream by 5.8% during the second quarter. Covalis Capital LLP now owns 179,520 shares of the company's stock worth $19,731,000 after acquiring an additional 9,906 shares in the last quarter. Bahl & Gaynor Inc. lifted its holdings in DT Midstream by 31.1% during the second quarter. Bahl & Gaynor Inc. now owns 554,318 shares of the company's stock worth $60,925,000 after acquiring an additional 131,599 shares in the last quarter. AXQ Capital LP lifted its holdings in shares of DT Midstream by 8.7% in the second quarter. AXQ Capital LP now owns 8,366 shares of the company's stock valued at $920,000 after purchasing an additional 673 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of DT Midstream by 1.5% in the second quarter. Franklin Resources Inc. now owns 881,898 shares of the company's stock valued at $96,929,000 after purchasing an additional 13,317 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.

DT Midstream Company Profile

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.

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