DT Midstream, Inc. (NYSE:DTM) Director Purchases $86,920.00 in Stock

DT Midstream, Inc. (NYSE:DTM) Director Robert C. Skaggs, Jr. purchased 1,000 shares of the stock in a transaction dated Monday, March 10th. The shares were purchased at an average cost of $86.92 per share, for a total transaction of $86,920.00. Following the completion of the acquisition, the director now directly owns 38,653 shares in the company, valued at approximately $3,359,718.76. This trade represents a 2.66 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

DT Midstream Price Performance

Shares of DTM traded up $3.69 during mid-day trading on Wednesday, reaching $93.59. The stock had a trading volume of 1,520,398 shares, compared to its average volume of 758,928. The business has a fifty day moving average of $101.22 and a 200 day moving average of $94.14. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $9.49 billion, a price-to-earnings ratio of 22.77 and a beta of 0.80. DT Midstream, Inc. has a 12 month low of $57.16 and a 12 month high of $114.50.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be issued a $0.82 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.28 annualized dividend and a yield of 3.50%. This is an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 91.11%.

Institutional Investors Weigh In On DT Midstream

A number of institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new position in shares of DT Midstream in the third quarter valued at about $29,000. Bessemer Group Inc. raised its stake in DT Midstream by 61.6% during the 4th quarter. Bessemer Group Inc. now owns 307 shares of the company’s stock valued at $30,000 after purchasing an additional 117 shares during the period. AdvisorNet Financial Inc lifted its holdings in DT Midstream by 106.7% in the 4th quarter. AdvisorNet Financial Inc now owns 310 shares of the company’s stock worth $31,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC boosted its stake in DT Midstream by 93.7% in the 4th quarter. Sound Income Strategies LLC now owns 337 shares of the company’s stock worth $34,000 after purchasing an additional 163 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in DT Midstream during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 81.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on DTM shares. Wells Fargo & Company reduced their price objective on DT Midstream from $118.00 to $108.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Raymond James upped their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. UBS Group initiated coverage on shares of DT Midstream in a report on Wednesday. They issued a “buy” rating and a $102.00 price objective on the stock. The Goldman Sachs Group upped their target price on shares of DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a report on Thursday, December 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, DT Midstream has an average rating of “Hold” and an average target price 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.