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

DT Midstream, Inc. (NYSE:DTM) declared a quarterly dividend on Tuesday, October 29th, Zacks reports. Shareholders 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 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Monday, December 16th.

DT Midstream has a dividend payout ratio of 67.7% indicating that 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

Shares of DTM stock traded up $0.84 during trading hours on Wednesday, reaching $90.14. The company had a trading volume of 128,002 shares, compared to its average volume of 636,796. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.84 and a current ratio of 0.84. The business has a fifty day moving average price of $80.52 and a 200-day moving average price of $72.95. DT Midstream has a one year low of $51.17 and a one year high of $90.75. The firm has a market cap of $8.75 billion, a PE ratio of 21.89 and a beta of 0.74.

DT Midstream (NYSE:DTM) last posted its earnings results on Tuesday, October 29th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.05). The company had revenue of $248.00 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.94 EPS. Sell-side analysts predict that DT Midstream will post 3.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on DTM. 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. Stifel Nicolaus downgraded shares of DT Midstream from a “buy” rating to a “hold” rating and raised their price objective for the stock from $78.00 to $89.00 in a report on Wednesday. Barclays upped their target price 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 lifted their price target on shares of DT Midstream from $62.00 to $76.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price objective on DT Midstream from $78.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, October 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, DT Midstream 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.