Insider Buying: DT Midstream, Inc. (NYSE:DTM) Director Acquires 1,000 Shares of Stock

DT Midstream, Inc. (NYSE:DTM) Director Robert C. Skaggs, Jr. bought 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 transaction, the director now directly owns 38,653 shares of the company’s stock, valued at $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 available through the SEC website.

DT Midstream Stock Up 4.1 %

Shares of NYSE DTM opened at $93.59 on Thursday. The business has a 50-day simple moving average of $101.10 and a two-hundred day simple moving average of $94.14. DT Midstream, Inc. has a 52 week low of $57.16 and a 52 week high of $114.50. The company has a market cap of $9.49 billion, a P/E ratio of 22.77 and a beta of 0.80. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.61.

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 dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is 91.11%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $90.00 to $115.00 in a report on Thursday, November 21st. Stifel Nicolaus dropped their price target on DT Midstream from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. raised their price objective on shares of DT Midstream from $109.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Barclays started coverage on shares of DT Midstream in a research note on Friday, January 10th. They set an “equal weight” rating and a $112.00 price target for the company. Finally, UBS Group assumed coverage on DT Midstream in a report on Wednesday. They set a “buy” rating and a $102.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $102.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its position in shares of DT Midstream by 0.4% in the fourth quarter. Louisiana State Employees Retirement System now owns 27,000 shares of the company’s stock worth $2,685,000 after buying an additional 100 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of DT Midstream by 15.0% in the 4th quarter. Jones Financial Companies Lllp now owns 768 shares of the company’s stock valued at $76,000 after acquiring an additional 100 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of DT Midstream by 17.8% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 696 shares of the company’s stock valued at $69,000 after acquiring an additional 105 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of DT Midstream by 1.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 12,137 shares of the company’s stock valued at $1,235,000 after acquiring an additional 116 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. grew its holdings in shares of DT Midstream by 4.2% during the fourth quarter. Lakeshore Financial Planning Inc. now owns 2,868 shares of the company’s stock worth $285,000 after purchasing an additional 116 shares in the last quarter. 81.53% of the stock is owned by institutional investors.

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.