DT Midstream, Inc. (NYSE:DTM) Increases Dividend to $0.82 Per Share

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Investors of record on Monday, March 17th will be paid a dividend of 0.82 per share on Tuesday, April 15th. This represents a $3.28 annualized dividend and a dividend yield of 3.53%. The ex-dividend date is Monday, March 17th. This is an increase from DT Midstream’s previous quarterly dividend of $0.74.

DT Midstream has raised its dividend payment by an average of 34.8% annually over the last three years. DT Midstream has a payout ratio of 58.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.43 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 66.4%.

DT Midstream Stock Down 2.1 %

DTM stock traded down $1.99 during mid-day trading on Thursday, hitting $92.92. The stock had a trading volume of 1,774,031 shares, compared to its average volume of 989,214. DT Midstream has a 1-year low of $56.60 and a 1-year high of $114.50. The company has a fifty day moving average of $102.82 and a 200 day moving average of $92.95. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $9.03 billion, a price-to-earnings ratio of 22.61 and a beta of 0.79.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DTM shares. Barclays started coverage on DT Midstream in a research report on Friday, January 10th. They set an “equal weight” rating and a $112.00 price objective for the company. Wells Fargo & Company raised their target price on DT Midstream from $87.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on shares of DT Midstream from $109.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Stifel Nicolaus dropped their price objective on shares of DT Midstream from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Citigroup upgraded shares of DT Midstream from a “neutral” rating to a “buy” rating and lifted their target price for the company from $90.00 to $115.00 in a research report on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $101.11.

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.