Key Points
- CFO Jeffrey Jewell purchased 185 shares on Feb. 25 at $136.33 each for $25,221.05, increasing his holding to 89,583 shares (a ~0.21% ownership rise) per an SEC filing.
- DT Midstream raised its quarterly dividend to $0.88 (from $0.82), payable April 15 with record/ex-dividend date March 16, implying a $3.52 annualized payout and a ~2.5% yield.
- The company missed quarterly estimates with EPS of $1.08 vs. $1.11 expected and revenue of $317M vs. $320.07M, while the stock trades near its 1-year high (~$138) with a market cap around $14.1B and a P/E near 32.
DT Midstream, Inc. (NYSE:DTM - Get Free Report) CFO Jeffrey Jewell bought 185 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was purchased at an average price of $136.33 per share, with a total value of $25,221.05. Following the completion of the purchase, the chief financial officer owned 89,583 shares in the company, valued at approximately $12,212,850.39. This trade represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
DT Midstream Stock Performance
DTM stock traded up $1.45 during midday trading on Thursday, hitting $138.73. 255,032 shares of the stock traded hands, compared to its average volume of 793,999. DT Midstream, Inc. has a 1-year low of $83.30 and a 1-year high of $139.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.07 and a quick ratio of 1.07. The stock's fifty day simple moving average is $124.44 and its 200-day simple moving average is $115.57. The firm has a market cap of $14.11 billion, a P/E ratio of 32.18, a PEG ratio of 2.44 and a beta of 0.77.
DT Midstream (NYSE:DTM - Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.03). DT Midstream had a return on equity of 9.13% and a net margin of 35.48%.The firm had revenue of $317.00 million for the quarter, compared to analysts' expectations of $320.07 million. During the same period in the previous year, the company earned $0.94 earnings per share. On average, analysts expect that DT Midstream, Inc. will post 3.8 earnings per share for the current year.
DT Midstream Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 16th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from DT Midstream's previous quarterly dividend of $0.82. This represents a $3.52 annualized dividend and a yield of 2.5%. DT Midstream's dividend payout ratio is 76.10%.
Hedge Funds Weigh In On DT Midstream
A number of institutional investors and hedge funds have recently bought and sold shares of DTM. 59 North Capital Management LP acquired a new stake in DT Midstream in the 2nd quarter valued at about $226,757,000. Norges Bank purchased a new stake in shares of DT Midstream in the second quarter valued at approximately $143,743,000. Merewether Investment Management LP grew its position in shares of DT Midstream by 192.4% in the third quarter. Merewether Investment Management LP now owns 1,000,600 shares of the company's stock valued at $113,128,000 after purchasing an additional 658,400 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of DT Midstream in the third quarter valued at approximately $43,347,000. Finally, Holocene Advisors LP lifted its position in DT Midstream by 117.7% during the third quarter. Holocene Advisors LP now owns 554,059 shares of the company's stock worth $62,642,000 after buying an additional 299,609 shares in the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on DTM shares. Barclays increased their target price on DT Midstream from $114.00 to $119.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 14th. JPMorgan Chase & Co. lifted their target price on shares of DT Midstream from $118.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, December 2nd. Bank of America boosted their target price on shares of DT Midstream from $118.00 to $132.00 and gave the stock a "buy" rating in a research note on Thursday, December 11th. Mizuho raised their price target on shares of DT Midstream from $108.00 to $129.00 and gave the company a "neutral" rating in a research note on Tuesday, February 17th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of DT Midstream in a research note on Wednesday, January 21st. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $136.18.
Check Out Our Latest Report on DT Midstream
About DT Midstream
(
Get Free Report)
DT Midstream Inc (NYSE: DTM) is a midstream energy company that owns and operates infrastructure for gathering, processing and treating hydrocarbons and produced water. Its core business activities encompass natural gas gathering, cryogenic processing, natural gas liquids (NGL) fractionation, and produced-water handling services. These integrated operations enable the company to capture and transport multiple hydrocarbon streams from wellhead to market and to provide essential water management solutions.
The company’s asset footprint is concentrated in the Delaware Basin in West Texas and southeastern New Mexico, where it serves a diverse range of exploration and production customers.
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