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

DT Midstream, Inc. (NYSE:DTM) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Monday, September 16th will be paid a dividend of 0.735 per share on Tuesday, October 15th. This represents a $2.94 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, September 16th.

DT Midstream has a dividend payout ratio of 67.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect DT Midstream to earn $4.40 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 66.8%.

DT Midstream Price Performance

DTM stock opened at $74.70 on Wednesday. The stock has a market cap of $7.25 billion, a PE ratio of 18.22 and a beta of 0.74. The stock has a 50-day moving average price of $69.89 and a two-hundred day moving average price of $62.89. DT Midstream has a 1 year low of $50.54 and a 1 year high of $76.01. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.71.

DT Midstream (NYSE:DTM) last released its earnings results on Tuesday, July 30th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $244.00 million for the quarter, compared to analysts’ expectations of $236.83 million. DT Midstream had a return on equity of 9.41% and a net margin of 42.46%. During the same quarter in the previous year, the business posted $0.93 EPS. Equities analysts forecast that DT Midstream will post 3.95 EPS for the current fiscal year.

Insider Activity at DT Midstream

In related news, CFO Jeffrey A. Jewell acquired 400 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $62.80 per share, for a total transaction of $25,120.00. Following the completion of the acquisition, the chief financial officer now directly owns 44,285 shares in the company, valued at $2,781,098. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DTM has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of DT Midstream from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $62.00 to $77.00 in a research note on Tuesday, June 4th. Mizuho upped their target price on DT Midstream from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, April 29th. US Capital Advisors cut DT Midstream from an “overweight” rating to a “hold” rating in a research report on Monday, April 29th. Barclays boosted their price target on DT Midstream from $66.00 to $72.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Finally, Stifel Nicolaus increased their price objective on DT Midstream from $62.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, DT Midstream presently has a consensus rating of “Hold” and a consensus target price of $65.67.

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.