DT Midstream (NYSE:DTM) Hits New 12-Month High After Insider Buying Activity

DT Midstream, Inc. (NYSE:DTM - Get Free Report) shares hit a new 52-week high during trading on Wednesday following insider buying activity. The stock traded as high as $64.70 and last traded at $64.54, with a volume of 160808 shares trading hands. The stock had previously closed at $64.06.

Specifically, CFO Jeffrey A. Jewell bought 400 shares of DT Midstream stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares of the company's stock, valued at approximately $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DT Midstream news, CFO Jeffrey A. Jewell bought 400 shares of DT Midstream stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the acquisition, the chief financial officer now owns 44,285 shares of the company's stock, valued at approximately $2,781,098. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company's stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $56.87 per share, for a total transaction of $56,870.00. Following the completion of the transaction, the director now directly owns 37,289 shares of the company's stock, valued at approximately $2,120,625.43. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DTM shares. Barclays increased their price objective on shares of DT Midstream from $59.00 to $66.00 and gave the company an "overweight" rating in a research report on Friday, April 5th. US Capital Advisors lowered shares of DT Midstream from an "overweight" rating to a "hold" rating in a research report on Monday, April 29th. Mizuho increased their price objective on shares of DT Midstream from $57.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, April 29th. Stifel Nicolaus increased their price objective on shares of DT Midstream from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, May 1st. Finally, Wolfe Research raised shares of DT Midstream from an "underperform" rating to a "peer perform" rating in a research report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $61.50.

DT Midstream Price Performance

The stock has a market capitalization of $6.23 billion, a price-to-earnings ratio of 15.62 and a beta of 0.72. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.71. The business's 50 day simple moving average is $60.97 and its 200-day simple moving average is $56.96.

DT Midstream (NYSE:DTM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.04. DT Midstream had a net margin of 42.46% and a return on equity of 9.41%. The firm had revenue of $240.00 million for the quarter, compared to the consensus estimate of $242.62 million. During the same period in the prior year, the company posted $0.84 earnings per share. On average, research analysts forecast that DT Midstream, Inc. will post 3.93 earnings per share for the current year.

DT Midstream Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, June 17th will be paid a $0.735 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 4.59%. DT Midstream's payout ratio is currently 71.71%.

Institutional Investors Weigh In On DT Midstream

Hedge funds have recently made changes to their positions in the stock. HHM Wealth Advisors LLC bought a new position in DT Midstream in the 4th quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in DT Midstream in the 4th quarter valued at approximately $25,000. Mather Group LLC. bought a new position in DT Midstream in the 1st quarter valued at approximately $29,000. ICA Group Wealth Management LLC bought a new position in DT Midstream in the 4th quarter valued at approximately $32,000. Finally, Burkett Financial Services LLC bought a new position in DT Midstream in the 4th quarter valued at approximately $42,000. 81.53% of the stock is currently owned by institutional investors and hedge funds.

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.