DT Midstream, Inc. (NYSE:DTM) Announces Quarterly Dividend of $0.74

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Monday, December 16th will be given a dividend of 0.735 per share on Wednesday, January 15th. This represents a $2.94 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Monday, December 16th.

DT Midstream has a payout ratio of 67.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.28 per share next year, which means the company should continue to be able to cover its $2.94 annual dividend with an expected future payout ratio of 68.7%.

DT Midstream Stock Performance

DTM stock traded up $0.59 during midday trading on Wednesday, hitting $89.89. 57,899 shares of the company traded hands, compared to its average volume of 636,462. DT Midstream has a twelve month low of $51.17 and a twelve month high of $90.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.71. The business has a 50 day simple moving average of $80.52 and a 200-day simple moving average of $72.95. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 21.89 and a beta of 0.74.

DT Midstream (NYSE:DTM) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.05). DT Midstream had a net margin of 42.10% and a return on equity of 9.45%. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $242.64 million. During the same period in the prior year, the company posted $0.94 earnings per share. As a group, equities research analysts predict that DT Midstream will post 3.99 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DTM shares. JPMorgan Chase & Co. increased their price objective on DT Midstream from $78.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, October 4th. Stifel Nicolaus cut DT Midstream from a “buy” rating to a “hold” rating and increased their price objective for the company from $78.00 to $89.00 in a research report on Wednesday. Morgan Stanley raised their target price on DT Midstream from $82.00 to $92.00 and gave the stock an “underweight” rating in a research report on Friday, October 25th. Barclays raised their target price on DT Midstream from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. Finally, Citigroup raised their target price on DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $78.75.

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.