Peter I. Tumminello Acquires 5,000 Shares of DT Midstream, Inc. (NYSE:DTM) Stock

DT Midstream, Inc. (NYSE:DTM – Get Rating) Director Peter I. Tumminello purchased 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was bought at an average cost of $47.35 per share, with a total value of $236,750.00. Following the completion of the purchase, the director now owns 9,888 shares of the company’s stock, valued at $468,196.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

DT Midstream Price Performance

Shares of DTM opened at $46.57 on Friday. The company has a market capitalization of $4.51 billion, a P/E ratio of 12.22 and a beta of 0.76. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $47.86 and a 200 day moving average of $52.40. DT Midstream, Inc. has a twelve month low of $45.10 and a twelve month high of $61.12.

DT Midstream (NYSE:DTM – Get Rating) last issued its earnings results on Tuesday, May 2nd. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.08). DT Midstream had a return on equity of 8.21% and a net margin of 40.00%. The company had revenue of $220.00 million during the quarter, compared to analysts’ expectations of $238.44 million. During the same quarter in the prior year, the business posted $0.84 EPS. As a group, equities research analysts anticipate that DT Midstream, Inc. will post 3.51 earnings per share for the current fiscal year.

DT Midstream Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Stockholders of record on Monday, June 19th will be paid a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Thursday, June 15th. DT Midstream’s dividend payout ratio is presently 72.44%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays decreased their price target on shares of DT Midstream from $64.00 to $57.00 in a research note on Tuesday, April 18th. Mizuho decreased their price target on shares of DT Midstream from $59.00 to $58.00 in a research note on Monday, May 1st. Morgan Stanley decreased their price target on shares of DT Midstream from $64.00 to $60.00 in a research note on Tuesday, April 25th. Raymond James started coverage on shares of DT Midstream in a research note on Friday, April 21st. They set an “outperform” rating for the company. Finally, TheStreet downgraded shares of DT Midstream from a “c” rating to a “d” rating in a research note on Wednesday, February 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of DTM. JPMorgan Chase & Co. boosted its stake in shares of DT Midstream by 7.1% during the 1st quarter. JPMorgan Chase & Co. now owns 225,447 shares of the company’s stock worth $12,233,000 after acquiring an additional 14,913 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of DT Midstream by 5.0% during the 1st quarter. American Century Companies Inc. now owns 5,889 shares of the company’s stock worth $320,000 after acquiring an additional 278 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of DT Midstream by 4.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,058 shares of the company’s stock worth $763,000 after acquiring an additional 551 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of DT Midstream by 23.0% during the 1st quarter. HighTower Advisors LLC now owns 9,218 shares of the company’s stock worth $500,000 after acquiring an additional 1,724 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of DT Midstream by 31.3% during the 1st quarter. Citigroup Inc. now owns 21,331 shares of the company’s stock worth $1,157,000 after acquiring an additional 5,087 shares during the last quarter. Hedge funds and other institutional investors own 78.28% of the company’s stock.

DT Midstream Company Profile

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DT Midstream, Inc provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. It develops, owns, and operates an integrated portfolio of interstate pipelines, intrastate pipelines, storage systems, lateral pipelines, gathering systems, related treatment plants, and compression and surface facilities.