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Robert C. Skaggs Jr., a director at DT Midstream , Inc. (NYSE:DTM), has recently made significant stock purchases, according to a recent SEC filing. Over a series of transactions, Skaggs acquired shares totaling $87,479, with purchase prices ranging from $42.75 to $112.27 per share. The stock, currently trading at $93.43, has delivered an impressive 66.43% return over the past year, according to InvestingPro data.
The transactions, which took place between October 2021 and March 2025, saw Skaggs consistently increasing his stake in the company. Notably, on March 10, 2025, he purchased 1,000 shares at an average price of $86.92, contributing significantly to the total value of his acquisitions. With analyst price targets ranging from $85 to $115, and a solid 3.51% dividend yield, the company continues to attract investor attention.
These purchases highlight Skaggs’ continued confidence in DT Midstream, a natural gas transmission company based in Detroit. The transactions were reported as direct acquisitions, reflecting his personal investment in the firm’s future. InvestingPro analysis shows the company maintains a GOOD financial health score, with 8 additional key insights available to subscribers through their comprehensive Pro Research Report.
In other recent news, DTE Midstream reported a 5% increase in adjusted EBITDA for the year 2024, reaching $969 million. The company slightly missed its earnings per share forecast of $0.95, reporting an actual EPS of $0.94. Despite this, DTE Midstream announced a 12% increase in its quarterly dividend to $0.82 per share. Looking ahead, the company provided a guidance for 2025, projecting an 18% growth in adjusted EBITDA to a range of $1,095-$1,155 million. Additionally, UBS analysts initiated coverage of DT Midstream with a Buy rating and a price target of $102, citing several catalysts for growth, including behind-the-meter power deals and volume growth in the Haynesville region. The company’s acquisition of a Midwest Pipeline has increased its project backlog to $2.3 billion, which could add approximately $350 million to its cumulative EBITDA. Analysts from UBS also highlighted DT Midstream’s strong operational infrastructure as a positive factor for the company’s future performance. These developments reflect the company’s strategic initiatives and its positioning within the natural gas market.
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