DT Midstream, Inc. (NYSE:DTM) CFO Jeffrey A. Jewell Purchases 170 Shares

DT Midstream, Inc. (NYSE:DTM) CFO Jeffrey A. Jewell bought 170 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $96.69 per share, for a total transaction of $16,437.30. Following the purchase, the chief financial officer now directly owns 64,165 shares in the company, valued at $6,204,113.85. This trade represents a 0.27 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

DT Midstream Price Performance

Shares of DT Midstream stock opened at $94.52 on Tuesday. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 23.00 and a beta of 0.79. 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 stock has a 50 day moving average price of $102.49 and a 200-day moving average price of $93.53. DT Midstream, Inc. has a one year low of $57.16 and a one year high of $114.50.

DT Midstream Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.82 dividend. This is a boost from DT Midstream’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Monday, March 17th. This represents a $3.28 dividend on an annualized basis and a dividend yield of 3.47%. DT Midstream’s payout ratio is 91.11%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on DT Midstream from $118.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus decreased their target price on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised their price target on DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Citigroup upgraded DT Midstream from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $115.00 in a report on Thursday, November 21st. Finally, Barclays assumed coverage on DT Midstream in a report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and an average target price of $102.00.

Hedge Funds Weigh In On DT Midstream

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of DT Midstream by 225.4% in the 3rd quarter. Wellington Management Group LLP now owns 145,556 shares of the company’s stock worth $11,449,000 after purchasing an additional 100,825 shares during the period. Friedenthal Financial purchased a new position in shares of DT Midstream in the 4th quarter worth approximately $764,000. Atria Investments Inc purchased a new position in shares of DT Midstream in the 3rd quarter worth approximately $666,000. Bridgewater Associates LP boosted its holdings in shares of DT Midstream by 57.6% in the 3rd quarter. Bridgewater Associates LP now owns 185,306 shares of the company’s stock worth $14,576,000 after purchasing an additional 67,725 shares during the period. Finally, State Street Corp boosted its holdings in shares of DT Midstream by 6.4% in the 3rd quarter. State Street Corp now owns 3,385,579 shares of the company’s stock worth $268,757,000 after purchasing an additional 202,447 shares during the period. Hedge funds and other institutional investors own 81.53% of the company’s stock.

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.