DT Midstream, Inc. (NYSE:DTM) Director Robert C. Skaggs, Jr. Purchases 1,000 Shares of Stock

DT Midstream, Inc. (NYSE:DTM) Director Robert C. Skaggs, Jr. purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was bought at an average cost of $86.92 per share, with a total value of $86,920.00. Following the purchase, the director now owns 38,653 shares of the company’s stock, valued at $3,359,718.76. This represents a 2.66 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

DT Midstream Trading Up 4.1 %

NYSE DTM opened at $93.59 on Thursday. DT Midstream, Inc. has a 12 month low of $57.16 and a 12 month high of $114.50. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $9.49 billion, a PE ratio of 22.77 and a beta of 0.80. The business’s 50-day moving average price is $101.10 and its two-hundred day moving average price is $94.14.

DT Midstream Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be given 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 an increase from DT Midstream’s previous quarterly dividend of $0.74. DT Midstream’s dividend payout ratio is currently 91.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DTM. UBS Group initiated coverage on shares of DT Midstream in a report on Wednesday. They set a “buy” rating and a $102.00 price target for the company. The Goldman Sachs Group lifted their target price on DT Midstream from $74.00 to $94.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Raymond James raised their price target on shares of DT Midstream from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Barclays assumed coverage on shares of DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $102.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. CWA Asset Management Group LLC acquired a new position in DT Midstream in the third quarter valued at $372,000. Atria Investments Inc acquired a new stake in DT Midstream during the third quarter worth approximately $666,000. Crossmark Global Holdings Inc. increased its holdings in DT Midstream by 18.9% in the third quarter. Crossmark Global Holdings Inc. now owns 9,138 shares of the company’s stock worth $719,000 after purchasing an additional 1,452 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of DT Midstream during the 3rd quarter worth approximately $56,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of DT Midstream by 31.9% during the 3rd quarter. GSA Capital Partners LLP now owns 27,209 shares of the company’s stock worth $2,140,000 after buying an additional 6,575 shares in the last quarter. Institutional investors and hedge funds 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.