DT Midstream (NYSE:DTM) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

DT Midstream (NYSE:DTM) announced its quarterly earnings data on Tuesday. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.05), Briefing.com reports. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $242.64 million. DT Midstream had a return on equity of 9.45% and a net margin of 42.10%. During the same period in the prior year, the firm earned $0.94 EPS.

DT Midstream Price Performance

DT Midstream stock traded down $0.79 during midday trading on Thursday, reaching $90.14. The company’s stock had a trading volume of 30,589 shares, compared to its average volume of 638,438. DT Midstream has a 52 week low of $51.17 and a 52 week high of $91.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $80.83 and a 200-day moving average price of $73.07. The stock has a market cap of $8.75 billion, a PE ratio of 22.13 and a beta of 0.74.

DT Midstream Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be given a $0.735 dividend. This represents a $2.94 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, December 16th. DT Midstream’s dividend payout ratio is presently 71.53%.

Analysts Set New Price Targets

A number of analysts have issued reports on DTM shares. Stifel Nicolaus cut shares of DT Midstream from a “buy” rating to a “hold” rating and lifted their target price for the company from $78.00 to $89.00 in a research note on Wednesday. Barclays boosted their price target on shares of DT Midstream from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Citigroup upped their target price on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their price target on shares of DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company upped their target price on shares of DT Midstream from $77.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $78.75.

About DT Midstream

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.